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

Globant S.A. (NYSE:GLOB) has been given a consensus rating of “Hold” by the eighteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $97.75.

Several brokerages have commented on GLOB. The Goldman Sachs Group dropped their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Canaccord Genuity Group dropped their target price on Globant from $80.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 14th. Citigroup upgraded Globant to a “hold” rating in a research report on Thursday, October 23rd. Needham & Company LLC lowered their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Finally, UBS Group restated a “neutral” rating and set a $75.00 price target on shares of Globant in a research report on Monday, January 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLOB. Lecap Asset Management Ltd. acquired a new stake in Globant during the 2nd quarter worth $1,855,000. Invesco Ltd. raised its stake in Globant by 199.1% during the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after acquiring an additional 1,881,940 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Globant by 791.2% during the third quarter. SG Americas Securities LLC now owns 57,735 shares of the information technology services provider’s stock worth $3,313,000 after purchasing an additional 51,257 shares during the period. Entropy Technologies LP raised its holdings in Globant by 98.9% during the second quarter. Entropy Technologies LP now owns 31,467 shares of the information technology services provider’s stock worth $2,858,000 after purchasing an additional 15,648 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Globant during the 2nd quarter worth approximately $11,926,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB opened at $69.91 on Thursday. The business’s 50-day moving average is $66.98 and its two-hundred day moving average is $66.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. The company has a market capitalization of $3.08 billion, a P/E ratio of 31.63, a P/E/G ratio of 6.37 and a beta of 1.21. Globant has a fifty-two week low of $54.36 and a fifty-two week high of $228.98.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The company had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. During the same period in the previous year, the firm posted $1.63 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Research analysts predict that Globant will post 5.73 earnings per share for the current year.

Globant announced that its board has initiated a share buyback 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 purchase up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.