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

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus rating of “Hold” by the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $111.9333.

A number of research analysts have recently weighed in on GLOB shares. Scotiabank raised shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a research note on Monday, July 21st. Citigroup upgraded Globant to a “hold” rating in a report on Thursday, October 23rd. UBS Group dropped their price target on Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, August 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Globant in a report on Thursday. Finally, Canaccord Genuity Group decreased their price objective on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GLOB. Brooklyn Investment Group lifted its position in Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Allworth Financial LP raised its stake in shares of Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 197 shares during the period. Signaturefd LLC raised its stake in shares of Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 89 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Globant by 352.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 352 shares in the last quarter. Finally, State of Wyoming boosted its position in Globant by 53.1% during the 1st quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

NYSE GLOB opened at $61.05 on Friday. The business has a 50 day moving average price of $59.16 and a 200 day moving average price of $80.45. The company has a market capitalization of $2.69 billion, a P/E ratio of 27.63, a PEG ratio of 5.98 and a beta of 1.20. Globant has a 1-year low of $54.36 and a 1-year high of $235.08. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.02). The firm had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.55%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. Sell-side analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Globant declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 1st that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.