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

Shares of Globant S.A. (NYSE:GLOB) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat.com 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 twelve-month price target among brokers that have covered the stock in the last year is $221.39.

GLOB has been the topic of several recent analyst reports. Scotiabank cut their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. decreased their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Jefferies Financial Group upped their target price on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, TD Cowen upped their price objective on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

Institutional Trading of Globant

A number of institutional investors have recently modified their holdings of the business. Centricity Wealth Management LLC purchased a new stake in Globant during the fourth quarter valued at about $38,000. Kestra Investment Management LLC acquired a new stake in Globant during the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB acquired a new stake in Globant during the third quarter valued at approximately $40,000. Van Berkom & Associates Inc. acquired a new stake in shares of Globant during the 4th quarter worth approximately $45,000. Finally, Promus Capital LLC acquired a new stake in shares of Globant during the 4th quarter worth approximately $64,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Price Performance

NYSE:GLOB opened at $140.31 on Monday. The stock has a market cap of $6.18 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. The stock’s 50-day moving average is $199.61 and its two-hundred day moving average is $207.69. Globant has a fifty-two week low of $138.24 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB) last issued its earnings results 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 firm had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, equities 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.