Globant S.A. (NYSE:GLOB) Receives $216.56 Average PT from Brokerages

Globant S.A. (NYSE:GLOB) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $214.69.

GLOB has been the subject of several recent analyst reports. Piper Sandler lowered their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, April 6th. Finally, Canaccord Genuity Group cut their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th.

Institutional Trading of Globant

Hedge funds have recently made changes to their positions in the stock. GQG Partners LLC bought a new stake in shares of Globant in the 4th quarter valued at about $84,906,000. Canada Pension Plan Investment Board bought a new position in shares of Globant in the 4th quarter worth approximately $60,913,000. JPMorgan Chase & Co. lifted its position in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after buying an additional 203,472 shares during the period. Capital International Investors boosted its stake in Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after acquiring an additional 197,064 shares in the last quarter. Finally, abrdn plc boosted its position in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after purchasing an additional 126,333 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Trading Down 7.1 %

NYSE GLOB opened at $104.61 on Friday. The stock’s 50 day moving average is $152.31 and its two-hundred day moving average is $193.69. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.38 and a beta of 1.50. Globant has a 1-year low of $96.23 and a 1-year high of $238.32.

Globant (NYSE:GLOB) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $644.42 million. On average, analysts predict that Globant will post 5.73 earnings per share for the current year.

Globant Company Profile

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.