Analysts Set Globant S.A. (NYSE:GLOB) PT at $222.06

Globant S.A. (NYSE:GLOB) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $221.42.

A number of research firms recently commented on GLOB. KeyCorp boosted their price target on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. UBS Group reiterated a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. The Goldman Sachs Group started coverage on Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Wedbush cut their price target on Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. increased their target price on Globant from $218.00 to $226.00 and gave the stock an “overweight” rating in a report on Friday, August 16th.

Globant Price Performance

GLOB stock opened at $197.67 on Thursday. The company has a fifty day moving average price of $188.90 and a two-hundred day moving average price of $190.38. Globant has a one year low of $151.68 and a one year high of $251.50. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 51.88, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. Globant’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 earnings per share. Research analysts anticipate that Globant will post 5 EPS for the current fiscal year.

Institutional Trading of Globant

A number of large investors have recently modified their holdings of GLOB. International Assets Investment Management LLC bought a new stake in shares of Globant during the 4th quarter valued at about $4,587,000. Cerity Partners LLC boosted its position in shares of Globant by 46.6% during the 4th quarter. Cerity Partners LLC now owns 2,866 shares of the information technology services provider’s stock valued at $682,000 after acquiring an additional 911 shares during the last quarter. Strs Ohio bought a new stake in shares of Globant during the 4th quarter valued at about $970,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Globant by 68,900.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock valued at $164,000 after acquiring an additional 689 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Globant by 20.0% during the 4th quarter. Federated Hermes Inc. now owns 12,000 shares of the information technology services provider’s stock valued at $2,856,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

About Globant

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.