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

Globant S.A. (NYSE:GLOB) has received a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $54.6250.

A number of equities analysts recently commented on the company. Canaccord Genuity Group decreased their price target on Globant from $50.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, May 15th. Susquehanna reduced their target price on Globant from $90.00 to $78.00 and set a “positive” rating on the stock in a report on Friday, May 15th. Wedbush reiterated an “outperform” rating on shares of Globant in a research report on Monday, May 18th. TD Cowen decreased their target price on Globant from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Needham & Company LLC lowered their price target on Globant from $60.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 15th.

Globant Price Performance

Shares of GLOB stock opened at $30.70 on Thursday. The firm has a market cap of $1.35 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.82 and a quick ratio of 1.82. Globant has a 1-year low of $27.56 and a 1-year high of $94.35. The firm has a fifty day moving average of $34.86 and a two-hundred day moving average of $45.85.

Globant (NYSE:GLOB) last released its earnings results on Friday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. The company had revenue of $607.09 million during the quarter, compared to the consensus estimate of $601.65 million. Globant had a net margin of 4.46% and a return on equity of 9.87%. The company’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 EPS. As a group, research analysts anticipate that Globant will post 4.9 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has initiated a stock buyback program on Monday, May 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Globant

Several institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its holdings in shares of Globant by 65.1% during the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 190 shares during the period. Allworth Financial LP grew its position in shares of Globant by 473.3% during the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 407 shares during the last quarter. Larson Financial Group LLC raised its stake in Globant by 561.2% during the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 578 shares during the period. GAMMA Investing LLC lifted its holdings in Globant by 34.3% in the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock worth $47,000 after acquiring an additional 182 shares during the last quarter. Finally, MidFirst Bank acquired a new position in Globant in the fourth quarter valued at approximately $47,000. Institutional investors 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.