Globant S.A. (NYSE:GLOB) Receives $222.90 Average PT from Analysts

Globant S.A. (NYSE:GLOB) has earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $222.90.

A number of research firms recently weighed in on GLOB. UBS Group restated a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. KeyCorp upped their price target on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Scotiabank raised their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Finally, Redburn Atlantic started coverage on shares of Globant in a research report on Friday, May 24th. They set a “sell” rating and a $135.00 price target for the company.

Globant Price Performance

Shares of NYSE GLOB opened at $189.06 on Monday. The stock has a fifty day moving average price of $195.34 and a 200 day moving average price of $187.12. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The company has a market cap of $8.15 billion, a PE ratio of 49.62, a P/E/G ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Analysts anticipate that Globant will post 5.01 earnings per share for the current fiscal year.

Institutional Trading of Globant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new stake in shares of Globant in the first quarter worth approximately $2,138,000. Vanguard Group Inc. raised its position in shares of Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after buying an additional 8,267 shares during the period. Cetera Investment Advisers raised its position in shares of Globant by 1,079.8% in the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after buying an additional 18,433 shares during the period. Franklin Resources Inc. grew its position in Globant by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after acquiring an additional 111 shares during the period. Finally, Capital International Investors grew its position in Globant by 0.5% during the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.