Globant (NYSE:GLOB) PT Set at $153.00 by Mizuho

Globant (NYSE:GLOB) has been given a $153.00 target price by stock analysts at Mizuho in a research note issued to investors on Monday, Marketbeat reports. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s target price points to a potential upside of 45.30% from the company’s current price.

GLOB has been the topic of a number of other research reports. Susquehanna lowered their price target on Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. UBS Group lowered their price target on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded Globant from a “buy” rating to a “neutral” rating and lowered their price target for the company from $225.00 to $120.00 in a report on Friday, May 16th. Jefferies Financial Group boosted their target price on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Wall Street Zen downgraded Globant from a “hold” rating to a “sell” rating in a research note on Sunday, May 11th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.19.

Globant Trading Up 2.5%

Shares of GLOB stock opened at $105.30 on Monday. Globant has a 1-year low of $88.03 and a 1-year high of $238.32. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 2.38 and a beta of 1.37. The stock’s fifty day simple moving average is $116.45 and its 200-day simple moving average is $174.48.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $611.09 million for the quarter, compared to analysts’ expectations of $622.18 million. During the same quarter in the prior year, the firm posted $1.53 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Globant will post 5.73 EPS for the current year.

Institutional Trading of Globant

A number of institutional investors and hedge funds have recently made changes to their positions in GLOB. Invesco Ltd. lifted its position in shares of Globant by 764.3% in the first quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider’s stock worth $111,271,000 after buying an additional 835,859 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Globant by 293.5% in the first quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock worth $117,716,000 after buying an additional 745,848 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Globant by 209.0% in the first quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider’s stock worth $96,583,000 after buying an additional 554,938 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Globant in the first quarter worth about $58,163,000. Finally, Manning & Napier Advisors LLC lifted its position in shares of Globant by 86.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider’s stock worth $106,850,000 after purchasing an additional 420,382 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.