Globant (NYSE:GLOB) Shares Gap Down – Here’s Why
by Danessa Lincoln · The Markets DailyGlobant S.A. (NYSE:GLOB – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $65.79, but opened at $61.93. Globant shares last traded at $61.3420, with a volume of 70,577 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on GLOB shares. Citigroup upgraded shares of Globant to a “hold” rating in a research note on Thursday, October 23rd. Needham & Company LLC reduced their price objective on Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. Jefferies Financial Group downgraded Globant from a “buy” rating to a “hold” rating and decreased their target price for the stock from $80.00 to $61.00 in a research report on Thursday, November 20th. UBS Group reaffirmed a “neutral” rating and set a $75.00 price target on shares of Globant in a research report on Monday, January 19th. Finally, The Goldman Sachs Group decreased their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Globant presently has a consensus rating of “Hold” and a consensus target price of $97.75.
Check Out Our Latest Research Report on Globant
Globant Stock Performance
The firm has a market capitalization of $2.55 billion, a PE ratio of 26.20, a PEG ratio of 7.21 and a beta of 1.19. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $67.28 and a 200 day moving average of $66.35.
Globant (NYSE:GLOB – Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The business had revenue of $617.14 million for the quarter, compared to the consensus estimate of $615.32 million. During the same quarter last year, the business posted $1.63 EPS. The business’s revenue was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Equities research analysts predict that Globant S.A. will post 5.73 EPS for the current year.
Institutional Trading of Globant
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP grew its position in Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Globant by 352.0% during the third quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 352 shares during the last quarter. Signaturefd LLC lifted its stake in Globant by 65.1% during the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 190 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Globant by 34.3% during the 4th quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock valued at $47,000 after purchasing an additional 182 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Globant by 27,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock valued at $48,000 after buying an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.
Globant Company Profile
Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.
Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.