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

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $246.59.

Several research analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on shares of Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Mizuho reissued a “buy” rating and set a $279.00 target price (down from $283.00) on shares of Globant in a research note on Tuesday, February 20th. KeyCorp boosted their target price on shares of Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Finally, UBS Group boosted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, February 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wealth Alliance raised its holdings in shares of Globant by 3.5% during the 3rd quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock worth $349,000 after acquiring an additional 59 shares during the period. Janney Capital Management LLC raised its holdings in shares of Globant by 2.5% during the 3rd quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 61 shares during the period. Private Advisor Group LLC raised its holdings in shares of Globant by 5.2% during the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after acquiring an additional 63 shares during the period. National Bank of Canada FI raised its holdings in shares of Globant by 1.9% during the 3rd quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock worth $693,000 after acquiring an additional 65 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of Globant by 2.7% during the 2nd quarter. MetLife Investment Management LLC now owns 2,532 shares of the information technology services provider’s stock worth $455,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Globant stock opened at $179.54 on Friday. The stock has a market cap of $7.74 billion, a P/E ratio of 49.46, a PEG ratio of 1.40 and a beta of 1.35. Globant has a 1 year low of $135.40 and a 1 year high of $251.50. The firm’s 50 day moving average price is $210.73 and its 200-day moving average price is $212.70.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The company had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. As a group, equities analysts expect that Globant will post 5.04 EPS for the current year.

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.