Globant S.A. (NYSE:GLOB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have earned a consensus rating of "Moderate Buy" from the sixteen research firms that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $174.94.

A number of brokerages have recently weighed in on GLOB. Scotiabank dropped their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Needham & Company LLC lowered their target price on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Susquehanna cut their price target on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Canaccord Genuity Group restated a "hold" rating and issued a $97.00 price objective (down from $165.00) on shares of Globant in a research report on Thursday, June 26th. Finally, Mizuho set a $153.00 price objective on Globant and gave the company an "outperform" rating in a research note on Monday, May 19th.

Globant Price Performance

Globant stock traded down $2.20 during trading hours on Friday, hitting $85.29. The stock had a trading volume of 755,423 shares, compared to its average volume of 738,497. Globant has a 1-year low of $85.00 and a 1-year high of $238.32. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.62 and a beta of 1.20. The stock's fifty day moving average is $101.65 and its two-hundred day moving average is $141.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The business had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Globant's quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts predict that Globant will post 5.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Globant during the 4th quarter worth approximately $16,737,000. PNC Financial Services Group Inc. increased its position in Globant by 2.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock worth $1,032,000 after purchasing an additional 118 shares in the last quarter. Amundi increased its position in Globant by 209.2% during the 4th quarter. Amundi now owns 2,718 shares of the information technology services provider's stock worth $580,000 after purchasing an additional 1,839 shares in the last quarter. HighTower Advisors LLC increased its position in Globant by 13.3% during the 4th quarter. HighTower Advisors LLC now owns 6,483 shares of the information technology services provider's stock worth $1,390,000 after purchasing an additional 759 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Globant by 3,513.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 831 shares of the information technology services provider's stock worth $178,000 after purchasing an additional 808 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.