Zacks Investment Research Downgrades Globant (NYSE:GLOB) to Hold


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Globant (NYSE:GLOB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Globant S.A. is a technology services provider. The Company provides engineering, design, and innovation services for clients. Globant offers content management systems; and e-commerce applications. It is also involved in the provision of data management solutions; and quality assurance engagement strategy, mobile testing, test automation, load and performance testing, and game testing services. It provides various software solutions primarily in North America, Europe, Latin America, and internationally. Globant S.A. is based in Luxembourg. “

Several other equities analysts also recently commented on the stock. Wedbush upped their price target on shares of Globant from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. Citigroup raised their target price on shares of Globant from $220.00 to $240.00 in a report on Friday, February 19th. TheStreet upgraded Globant from a “c+” rating to a “b-” rating in a research note on Thursday, February 18th. JPMorgan Chase & Co. raised their price objective on Globant from $203.00 to $236.00 and gave the stock an “overweight” rating in a research note on Friday, February 19th. Finally, Piper Sandler upped their target price on Globant from $222.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, February 25th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $226.89.

Shares of GLOB stock opened at $216.63 on Monday. Globant has a 12-month low of $102.05 and a 12-month high of $244.72. The company has a market capitalization of $8.67 billion, a PE ratio of 171.93 and a beta of 1.24. The firm has a 50 day moving average price of $219.48 and a two-hundred day moving average price of $207.53. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.09.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 18th. The information technology services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. The company had revenue of $232.64 million for the quarter, compared to analyst estimates of $222.05 million. Globant had a return on equity of 10.92% and a net margin of 6.40%. As a group, research analysts expect that Globant will post 1.76 EPS for the current year.

Several hedge funds have recently made changes to their positions in the stock. JJJ Advisors Inc. grew its position in Globant by 100.0% in the first quarter. JJJ Advisors Inc. now owns 150 shares of the information technology services provider’s stock valued at $31,000 after acquiring an additional 75 shares during the last quarter. Private Capital Group LLC grew its holdings in shares of Globant by 378.4% during the 1st quarter. Private Capital Group LLC now owns 177 shares of the information technology services provider’s stock valued at $37,000 after purchasing an additional 140 shares during the last quarter. Capital Asset Advisory Services LLC bought a new stake in shares of Globant during the 4th quarter valued at approximately $46,000. Contravisory Investment Management Inc. increased its position in Globant by 1,300.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 238 shares of the information technology services provider’s stock worth $52,000 after purchasing an additional 221 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in Globant in the 4th quarter valued at approximately $67,000. Institutional investors and hedge funds own 89.97% of the company’s stock.

Globant Company Profile

Globant SA operates as a technology services company worldwide. The company offers transformational programs, ROI and cost efficiency, new revenue streams, E-mission, sustainability today, up with climate, organizational design, leadership mindset and organizational upskilling, cultural strategy, talent journeys, change management, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, strategic architecture consulting, platforms evolution, and augmented composable services.

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