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

Shares of Globant S.A. (NYSE:GLOB) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $246.59.

A number of equities analysts recently commented on GLOB shares. JPMorgan Chase & Co. lifted their price target on Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Piper Sandler lifted their price target on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Citigroup lifted their price target on shares of Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Guggenheim began coverage on shares of Globant in a research report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price target for the company. Finally, Needham & Company LLC lifted their price target on shares of Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 26th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLOB. Jennison Associates LLC increased its holdings 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 buying an additional 714,162 shares in the last quarter. Norges Bank bought a new stake in shares of Globant in the fourth quarter worth $114,922,000. Price T Rowe Associates Inc. MD grew its stake in shares of Globant by 15.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,086,471 shares of the information technology services provider’s stock worth $519,021,000 after purchasing an additional 416,119 shares during the last quarter. Invesco Ltd. grew its stake in shares of Globant by 155.2% in the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock worth $120,898,000 after purchasing an additional 371,628 shares during the last quarter. Finally, Wolf Hill Capital Management LP bought a new stake in shares of Globant in the first quarter worth $50,388,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Globant stock opened at $179.54 on Friday. Globant has a 52 week low of $135.40 and a 52 week high of $251.50. The stock has a market capitalization of $7.74 billion, a P/E ratio of 49.46, a PEG ratio of 1.40 and a beta of 1.35. The stock has a 50-day simple moving average of $210.73 and a 200 day simple moving average of $212.70.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The business had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Research analysts forecast that Globant will post 5.04 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.