Globant S.A. (NYSE:GLOB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Globant S.A. (NYSE:GLOB) have earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $216.56.

A number of equities analysts have recently commented on the company. Piper Sandler dropped their target price on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group reduced their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Jefferies Financial Group raised their target price on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Scotiabank decreased their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Finally, StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a report on Saturday, March 29th.

Globant Price Performance

Shares of GLOB opened at $105.01 on Friday. The business’s 50 day simple moving average is $166.97 and its 200-day simple moving average is $198.04. Globant has a 1 year low of $104.82 and a 1 year high of $238.32. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last released 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 the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, sell-side analysts expect that Globant will post 5.73 earnings per share for the current year.

Institutional Trading of Globant

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. Capital International Investors lifted its position in shares of Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock valued at $364,723,000 after buying an additional 197,064 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Globant by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after buying an additional 96,257 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Globant by 0.6% in the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after buying an additional 4,970 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Globant by 3.5% in the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock worth $129,252,000 after buying an additional 20,365 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.