Globant S.A. (NYSE:GLOB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus rating of “Moderate Buy” by the eighteen analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $221.39.

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Piper Sandler reduced their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently modified their holdings of GLOB. Van ECK Associates Corp grew its stake in shares of Globant by 62.4% in the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after acquiring an additional 153 shares during the period. Principal Financial Group Inc. grew its position in Globant by 121.3% in the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after purchasing an additional 16,639 shares during the period. Equitable Trust Co. raised its stake in Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Globant by 48.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,388 shares of the information technology services provider’s stock valued at $1,464,000 after buying an additional 2,425 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after buying an additional 1,431,112 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Up 4.3 %

Globant stock opened at $134.43 on Monday. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 2.38 and a beta of 1.47. The business has a 50-day simple moving average of $191.29 and a 200 day simple moving average of $205.27. Globant has a 52 week low of $128.76 and a 52 week high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, research analysts anticipate that Globant will post 5.73 earnings per share for the current year.

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.