Analysts Set Globant S.A. (NYSE:GLOB) Price Target at $216.56

Globant S.A. (NYSE:GLOB) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $216.56.

GLOB has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday. Scotiabank lowered their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Finally, Piper Sandler reduced their price target on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st.

Hedge Funds Weigh In On Globant

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. M&T Bank Corp lifted its holdings in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the period. Franklin Resources Inc. raised its position in shares of Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after acquiring an additional 71 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after purchasing an additional 76 shares during the period. Treasurer of the State of North Carolina raised its holdings in Globant by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider’s stock worth $3,965,000 after purchasing an additional 110 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Globant by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock valued at $1,032,000 after buying an additional 118 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 4.7 %

GLOB opened at $100.14 on Friday. The business’s fifty day simple moving average is $164.90 and its 200 day simple moving average is $197.44. Globant has a 52 week low of $96.93 and a 52 week high of $238.32. The stock has a market cap of $4.41 billion, a PE ratio of 26.92, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, equities analysts anticipate that Globant will post 5.73 earnings per share for the current year.

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.