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

Globant S.A. (NYSE:GLOB) has earned an average recommendation of “Hold” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $97.3125.

A number of research firms recently issued reports on GLOB. Truist Financial initiated coverage on Globant in a research report on Tuesday, January 6th. They issued a “hold” rating and a $72.00 target price on the stock. UBS Group restated a “neutral” rating and issued a $75.00 price target on shares of Globant in a research note on Monday, January 19th. Jefferies Financial Group cut Globant from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $80.00 to $61.00 in a research note on Thursday, November 20th. JPMorgan Chase & Co. cut their price objective on Globant from $75.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, 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 report on Friday, November 14th.

Institutional Investors Weigh In On Globant

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Globant by 214.1% during the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Globant by 352.0% during the third quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after buying an additional 352 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Globant by 65.1% during the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock worth $32,000 after buying an additional 190 shares in the last quarter. CWM LLC boosted its position in shares of Globant by 30.1% in the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 147 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Globant by 561.2% in the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 578 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of GLOB opened at $45.82 on Monday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 5.02 and a beta of 1.19. Globant has a 12 month low of $44.51 and a 12 month high of $187.23. The firm has a fifty day simple moving average of $63.57 and a 200 day simple moving average of $63.12. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16.

About Globant

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.