Globant S.A. (NYSE:GLOB - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.09 and traded as low as $31.29. Globant shares last traded at $32.1390, with a volume of 1,073,515 shares.
Analyst Ratings Changes
A number of equities research analysts have recently commented on GLOB shares. Truist Financial lowered their price target on shares of Globant from $54.00 to $44.00 and set a "hold" rating for the company in a report on Friday, May 15th. Deutsche Bank Aktiengesellschaft set a $33.00 target price on shares of Globant in a research report on Friday, July 10th. Wedbush reaffirmed an "outperform" rating on shares of Globant in a research note on Monday, May 18th. The Goldman Sachs Group cut their price target on Globant from $68.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, May 15th. Finally, Needham & Company LLC reduced their price target on Globant from $60.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Globant has a consensus rating of "Hold" and an average target price of $54.62.
Read Our Latest Research Report on Globant
Globant Stock Down 0.5%
The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market cap of $1.41 billion, a PE ratio of 13.06, a PEG ratio of 1.21 and a beta of 1.06. The firm has a fifty day simple moving average of $34.90 and a 200 day simple moving average of $46.09.
Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. Globant had a net margin of 4.46% and a return on equity of 9.87%. The company had revenue of $607.09 million during the quarter, compared to the consensus estimate of $601.65 million. During the same quarter in the prior year, the company posted $1.50 EPS. The company's quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts predict that Globant S.A. will post 4.9 EPS for the current year.
Globant declared that its Board of Directors has approved a stock repurchase program on Monday, May 18th that authorizes the company to buyback $50.00 million in 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 usually a sign that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On Globant
A number of hedge funds have recently made changes to their positions in GLOB. Pzena Investment Management LLC purchased a new position in shares of Globant in the 1st quarter worth $136,893,000. Brandes Investment Partners LP grew its position in Globant by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 2,400,732 shares of the information technology services provider's stock valued at $156,936,000 after acquiring an additional 91,732 shares during the period. Capital International Investors grew its position in Globant by 10.6% during the fourth quarter. Capital International Investors now owns 2,283,802 shares of the information technology services provider's stock valued at $149,292,000 after acquiring an additional 218,570 shares during the period. Royal Bank of Canada increased its stake in Globant by 8.5% during the fourth quarter. Royal Bank of Canada now owns 1,777,710 shares of the information technology services provider's stock worth $116,209,000 after acquiring an additional 138,596 shares during the last quarter. Finally, Wasatch Advisors LP increased its stake in Globant by 19.0% during the fourth quarter. Wasatch Advisors LP now owns 1,243,309 shares of the information technology services provider's stock worth $81,275,000 after acquiring an additional 198,318 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.
About Globant
(
Get Free Report)
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.
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