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

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $179.19.

A number of research firms recently commented on GLOB. Mizuho set a $153.00 target price on Globant and gave the stock an “outperform” rating in a report on Monday, May 19th. JPMorgan Chase & Co. decreased their price target on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Guggenheim reissued a “buy” rating and issued a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. Needham & Company LLC decreased their target price on Globant from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. Finally, Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and increased their target price for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th.

Hedge Funds Weigh In On Globant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in 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 valued at $551,506,000 after purchasing an additional 203,472 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Globant by 6.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider’s stock valued at $200,709,000 after acquiring an additional 98,863 shares during the last quarter. Capital International Investors lifted its position in shares of Globant by 13.1% during the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock valued at $364,723,000 after acquiring an additional 197,064 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Globant by 293.5% during the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock valued at $117,716,000 after acquiring an additional 745,848 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Globant by 764.3% during the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider’s stock valued at $111,271,000 after acquiring an additional 835,859 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Stock Down 3.3%

Shares of GLOB opened at $92.69 on Wednesday. The company has a market cap of $4.08 billion, a PE ratio of 27.42, a P/E/G ratio of 1.78 and a beta of 1.24. The business has a fifty day moving average of $109.37 and a 200 day moving average of $158.39. Globant has a 52-week low of $88.03 and a 52-week high of $238.32. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13.

Globant (NYSE:GLOB) last released its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The business had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same quarter in the previous year, the business earned $1.53 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Globant will post 5.73 EPS 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.