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

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $221.39.

A number of research firms recently issued reports on GLOB. Susquehanna began coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. Canaccord Genuity Group lowered their target price on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. JPMorgan Chase & Co. lowered their target price on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, UBS Group lowered their target price on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. increased its position in Globant by 5.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock valued at $11,350,000 after buying an additional 2,505 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Globant during the 3rd quarter valued at about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after buying an additional 8,427 shares in the last quarter. NS Partners Ltd acquired a new position in Globant during the 4th quarter valued at about $18,933,000. Finally, LGT Group Foundation acquired a new position in Globant during the 4th quarter valued at about $1,583,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Up 4.3 %

GLOB opened at $134.43 on Monday. The business has a fifty day moving average of $191.29 and a 200 day moving average of $205.20. Globant has a 52-week low of $128.76 and a 52-week high of $238.32. The stock has a market cap of $5.92 billion, a P/E ratio of 36.14, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Equities analysts anticipate that Globant will post 5.73 EPS for the current fiscal year.

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.