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

Shares of Globant S.A. (NYSE:GLOB) have earned an average recommendation of “Hold” from the eighteen analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $64.8125.

GLOB has been the topic of a number of analyst reports. UBS Group cut their price target on Globant from $75.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Wells Fargo & Company lowered their price objective on Globant from $57.00 to $50.00 and set an “equal weight” rating for the company in a research report on Friday, March 27th. Truist Financial dropped their price objective on Globant from $54.00 to $44.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Needham & Company LLC cut their target price on Globant from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Finally, Wedbush restated an “outperform” rating on shares of Globant in a research note on Monday, May 18th.

Globant Stock Up 8.2%

Shares of NYSE:GLOB opened at $30.00 on Friday. Globant has a fifty-two week low of $27.56 and a fifty-two week high of $95.26. The firm’s 50 day moving average price is $38.91 and its 200 day moving average price is $50.57. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.10 and a beta of 1.02.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. The company had revenue of $607.09 million during the quarter, compared to analysts’ expectations of $601.66 million. Globant had a net margin of 4.46% and a return on equity of 9.87%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 EPS. As a group, equities research analysts predict that Globant will post 4.94 earnings per share for the current fiscal year.

Globant announced that its board has authorized a share repurchase program on Monday, May 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GLOB. Signaturefd LLC grew its position in shares of Globant by 65.1% in the 4th quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 190 shares during the last quarter. Allworth Financial LP lifted its position in Globant by 473.3% in the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 407 shares during the last quarter. Larson Financial Group LLC lifted its position in Globant by 561.2% in the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 578 shares during the last quarter. GAMMA Investing LLC boosted its stake in Globant by 34.3% in the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock valued at $47,000 after acquiring an additional 182 shares in the last quarter. Finally, MidFirst Bank acquired a new position in Globant in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.