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

Globant S.A. (NYSE:GLOB) has received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $226.21.

GLOB has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp upped their target price on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Jefferies Financial Group raised their price target on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, UBS Group reiterated a “neutral” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th.

Globant Trading Up 0.9 %

NYSE GLOB opened at $212.01 on Tuesday. The company has a 50-day moving average price of $204.15 and a two-hundred day moving average price of $188.29. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 55.36, a price-to-earnings-growth ratio of 2.58 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same period last year, the firm posted $1.04 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts expect that Globant will post 5.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLOB. Verdence Capital Advisors LLC lifted its position 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 worth $1,464,000 after buying an additional 2,425 shares during the period. Equitable Trust Co. raised its stake in Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after acquiring an additional 50 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 valued at $6,014,000 after purchasing an additional 16,639 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Globant by 26.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,269 shares of the information technology services provider’s stock valued at $1,638,000 after purchasing an additional 1,711 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Globant by 62.4% in the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock valued at $86,000 after buying an additional 153 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.