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

Globant S.A. (NYSE:GLOB) has earned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $97.75.

A number of research analysts have weighed in on the company. UBS Group reissued a “neutral” rating and set a $75.00 price target on shares of Globant in a research note on Monday, January 19th. Citigroup raised shares of Globant to a “hold” rating in a research report on Thursday, October 23rd. Canaccord Genuity Group dropped their target price on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 14th. Wells Fargo & Company lifted their price target on shares of Globant from $61.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group dropped their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th.

Institutional Investors Weigh In On Globant

Several institutional investors and hedge funds have recently bought and sold shares of GLOB. Invesco Ltd. raised its position in shares of Globant by 199.1% during the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock worth $256,819,000 after purchasing an additional 1,881,940 shares during the period. ARGA Investment Management LP lifted its holdings in Globant by 14,073.7% in the third quarter. ARGA Investment Management LP now owns 2,057,594 shares of the information technology services provider’s stock worth $118,065,000 after purchasing an additional 2,043,077 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Globant by 34.1% in the second quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock valued at $99,972,000 after acquiring an additional 280,081 shares in the last quarter. Schroder Investment Management Group boosted its stake in Globant by 20.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,006,175 shares of the information technology services provider’s stock valued at $91,401,000 after purchasing an additional 168,700 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Globant by 6,875.8% during the 2nd quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock valued at $84,413,000 after purchasing an additional 915,924 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Up 1.1%

Shares of GLOB opened at $69.91 on Thursday. Globant has a 1-year low of $54.36 and a 1-year high of $228.98. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 6.37 and a beta of 1.21. The firm has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $66.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93.

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

Globant announced that its board has initiated a stock buyback plan on Wednesday, October 1st that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Globant Company Profile

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.