Globant S.A. (NYSE:GLOB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $216.44.

A number of equities research analysts have recently issued reports on the company. Citigroup reduced their price objective on Globant from $235.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 17th. The Goldman Sachs Group started coverage on Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Canaccord Genuity Group cut their price target on Globant from $230.00 to $175.00 and set a “hold” rating for the company in a research note on Friday, May 17th. Redburn Atlantic assumed coverage on shares of Globant in a research report on Friday, May 24th. They set a “sell” rating and a $135.00 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $238.00 price target (down from $290.00) on shares of Globant in a research report on Friday, May 17th.

Globant Stock Performance

NYSE:GLOB opened at $176.53 on Wednesday. The firm’s 50-day moving average is $170.41 and its 200-day moving average is $202.51. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 1.84 and a beta of 1.41.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The company had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Equities analysts predict that Globant will post 5 EPS for the current year.

Institutional Investors Weigh In On Globant

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP raised its position in shares of Globant by 6.8% in the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after buying an additional 213,049 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Globant by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock valued at $319,485,000 after buying an additional 49,812 shares during the period. Capital International Investors raised its stake in shares of Globant by 0.5% during the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after purchasing an additional 6,707 shares during the period. Jennison Associates LLC increased its position in shares of Globant by 289.5% during the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after acquiring an additional 714,162 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Globant by 16.2% in the third quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider’s stock valued at $145,317,000 after acquiring an additional 102,184 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.