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

Shares of Globant S.A. (NYSE:GLOB) have earned a consensus rating of “Hold” from the sixteen analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $98.6667.

GLOB has been the subject of a number of research analyst reports. Citigroup upgraded Globant to a “hold” rating in a report on Thursday, October 23rd. Canaccord Genuity Group reduced their price objective on shares of Globant from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 14th. The Goldman Sachs Group lowered their price objective on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research note on Monday. Finally, Needham & Company LLC reduced their price target on shares of Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its stake in Globant by 83.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,125 shares of the information technology services provider’s stock worth $65,000 after buying an additional 511 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Globant by 10,610.0% during the third quarter. NewEdge Advisors LLC now owns 6,426 shares of the information technology services provider’s stock valued at $369,000 after acquiring an additional 6,366 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Globant by 37.3% during the third quarter. Woodline Partners LP now owns 6,722 shares of the information technology services provider’s stock valued at $386,000 after acquiring an additional 1,827 shares in the last quarter. Voloridge Investment Management LLC raised its position in shares of Globant by 60.4% during the third quarter. Voloridge Investment Management LLC now owns 659,373 shares of the information technology services provider’s stock worth $37,835,000 after purchasing an additional 248,225 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of Globant by 5.3% during the third quarter. Verition Fund Management LLC now owns 40,545 shares of the information technology services provider’s stock worth $2,326,000 after purchasing an additional 2,045 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Price Performance

GLOB stock opened at $68.80 on Wednesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 6.52 and a beta of 1.24. The company’s fifty day simple moving average is $61.46 and its 200 day simple moving average is $73.38. Globant has a 12-month low of $54.36 and a 12-month high of $230.60.

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

Globant declared that its board has initiated a share buyback program on Wednesday, October 1st that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.