Globant (NYSE:GLOB) Rating Reiterated by Wedbush

Globant (NYSE:GLOB)‘s stock had its “outperform” rating restated by Wedbush in a research note issued to investors on Friday, Benzinga reports. They currently have a $250.00 target price on the information technology services provider’s stock. Wedbush’s price target indicates a potential upside of 21.09% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Globant from $194.00 to $236.00 and gave the company an “overweight” rating in a research note on Tuesday, August 22nd. Bank of America initiated coverage on shares of Globant in a report on Wednesday, October 11th. They issued a “neutral” rating and a $202.00 price target for the company. TD Cowen decreased their price target on Globant from $207.00 to $205.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. KeyCorp cut their price objective on Globant from $230.00 to $218.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Citigroup increased their target price on Globant from $185.00 to $215.00 in a research note on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.57.

Globant Trading Up 12.8 %

Shares of NYSE:GLOB traded up $23.37 during midday trading on Friday, reaching $206.46. 203,983 shares of the company were exchanged, compared to its average volume of 422,217. The stock has a market cap of $8.73 billion, a PE ratio of 60.02 and a beta of 1.31. The business’s fifty day moving average is $189.38 and its two-hundred day moving average is $180.95. Globant has a one year low of $135.40 and a one year high of $210.00.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 17th. The information technology services provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.06). The company had revenue of $497.53 million for the quarter, compared to the consensus estimate of $496.47 million. Globant had a net margin of 7.74% and a return on equity of 11.40%. As a group, sell-side analysts expect that Globant will post 4.62 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. CI Investments Inc. boosted its position in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 72 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Globant by 233.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock worth $33,000 after acquiring an additional 140 shares in the last quarter. Clearstead Advisors LLC lifted its position in Globant by 1,566.7% during the first quarter. Clearstead Advisors LLC now owns 250 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 235 shares during the last quarter. Cornerstone Planning Group LLC acquired a new stake in Globant in the second quarter valued at approximately $50,000. Finally, Fortis Capital Advisors LLC purchased a new position in Globant in the first quarter worth $55,000. 91.49% of the stock is currently owned by institutional investors.

About Globant

Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.