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

Shares of Globant S.A. (NYSE:GLOB) have received an average recommendation of “Hold” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $98.6667.

GLOB has been the subject of a number of research reports. UBS Group reiterated a “neutral” rating and issued a $70.00 price target on shares of Globant in a research note on Tuesday, December 2nd. Wells Fargo & Company upgraded Globant to a “hold” rating in a report on Wednesday, October 22nd. Canaccord Genuity Group lowered their price objective on Globant from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 14th. The Goldman Sachs Group dropped their price objective on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, Needham & Company LLC cut their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, November 14th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its position in shares of Globant by 83.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,125 shares of the information technology services provider’s stock valued at $65,000 after buying an additional 511 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Globant by 10,610.0% in the third quarter. NewEdge Advisors LLC now owns 6,426 shares of the information technology services provider’s stock worth $369,000 after acquiring an additional 6,366 shares during the period. Woodline Partners LP boosted its holdings in Globant by 37.3% in the third quarter. Woodline Partners LP now owns 6,722 shares of the information technology services provider’s stock valued at $386,000 after acquiring an additional 1,827 shares during the last quarter. Voloridge Investment Management LLC increased its position in Globant by 60.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 659,373 shares of the information technology services provider’s stock valued at $37,835,000 after purchasing an additional 248,225 shares during the period. Finally, Verition Fund Management LLC increased its position in Globant by 5.3% during the 3rd quarter. Verition Fund Management LLC now owns 40,545 shares of the information technology services provider’s stock valued at $2,326,000 after purchasing an additional 2,045 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Stock Performance

Globant stock opened at $68.80 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.03 billion, a PE ratio of 31.13, a P/E/G ratio of 6.52 and a beta of 1.24. Globant has a 12-month low of $54.36 and a 12-month high of $230.60. The business’s 50-day moving average price is $61.46 and its two-hundred day moving average price is $73.38.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The company 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 10.39%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. As a group, analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has approved a share repurchase program on Wednesday, October 1st that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.