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

Shares of Globant S.A. (NYSE:GLOB) have earned an average rating of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $98.6667.

A number of analysts have recently issued reports on GLOB shares. JPMorgan Chase & Co. lowered their price target on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Canaccord Genuity Group lowered their target price on shares of Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 14th. UBS Group reaffirmed a “neutral” rating and set a $70.00 target price on shares of Globant in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. Finally, Wells Fargo & Company upgraded shares of Globant to a “hold” rating in a research report on Wednesday, October 22nd.

Globant Trading Down 3.3%

Shares of Globant stock opened at $63.24 on Friday. The stock has a market cap of $2.78 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 5.79 and a beta of 1.21. The firm has a fifty day moving average price of $64.41 and a 200 day moving average price of $69.63. Globant has a 1 year low of $54.36 and a 1 year high of $228.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93.

Globant (NYSE:GLOB) last announced its quarterly 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 company had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior 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. Equities research analysts predict that Globant will post 5.73 earnings per share for the current year.

Globant declared that its board has authorized a share buyback program on Wednesday, October 1st that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Globant

Several institutional investors and hedge funds have recently bought and sold shares of GLOB. Invesco Ltd. grew its stake in shares of Globant by 199.1% in the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after buying an additional 1,881,940 shares in the last quarter. ARGA Investment Management LP boosted its holdings in Globant by 14,073.7% during the 3rd quarter. ARGA Investment Management LP now owns 2,057,594 shares of the information technology services provider’s stock valued at $118,065,000 after acquiring an additional 2,043,077 shares during the period. Westfield Capital Management Co. LP grew its position in Globant by 34.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock valued at $99,972,000 after acquiring an additional 280,081 shares in the last quarter. Schroder Investment Management Group increased its stake in Globant by 20.1% during the second quarter. Schroder Investment Management Group now owns 1,006,175 shares of the information technology services provider’s stock worth $91,401,000 after purchasing an additional 168,700 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Globant by 6,875.8% during the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock worth $84,413,000 after purchasing an additional 915,924 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.