Globant S.A. (NYSE:GLOB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Globant S.A. (NYSE:GLOBGet Free Report) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $205.88.

GLOB has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Piper Sandler dropped their price target on shares of Globant from $230.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Canaccord Genuity Group decreased their price objective on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Finally, StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research note on Friday.

View Our Latest Research Report on GLOB

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GLOB. Principal Financial Group Inc. grew its holdings in shares of Globant by 6.8% during the first quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider’s stock valued at $15,868,000 after purchasing an additional 8,599 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in Globant by 140.9% in the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Globant by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider’s stock worth $2,648,000 after acquiring an additional 2,967 shares in the last quarter. Border to Coast Pensions Partnership Ltd raised its position in Globant by 53.0% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 136,994 shares of the information technology services provider’s stock worth $16,127,000 after acquiring an additional 47,455 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in Globant by 69.9% in the first quarter. Artemis Investment Management LLP now owns 44,058 shares of the information technology services provider’s stock worth $5,187,000 after acquiring an additional 18,124 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

GLOB stock opened at $118.74 on Tuesday. Globant has a one year low of $96.23 and a one year high of $238.32. The company has a market capitalization of $5.23 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The company’s 50 day moving average price is $126.07 and its two-hundred day moving average price is $186.03.

Globant (NYSE:GLOBGet Free Report) last issued 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. On average, research analysts predict that Globant will post 5.73 EPS for the current year.

About Globant

(Get Free Report

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.

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Analyst Recommendations for Globant (NYSE:GLOB)

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