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

Globant S.A. (NYSE:GLOB - Get Free Report) has received an average recommendation of "Moderate Buy" from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $204.00.

A number of research analysts recently weighed in on GLOB shares. Susquehanna reduced their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased 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. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Canaccord Genuity Group decreased their price objective 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. Finally, Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and raised their target price for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th.

Institutional Investors Weigh In On Globant

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its position in shares of Globant by 132.9% during the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock worth $4,467,000 after purchasing an additional 12,862 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Globant in the third quarter worth $40,000. Franklin Resources Inc. lifted its stake in Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after buying an additional 71 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Globant during the third quarter valued at $10,814,000. Finally, Principal Financial Group Inc. grew its position in shares of Globant by 121.3% during the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock worth $6,014,000 after acquiring an additional 16,639 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Up 1.9 %

Shares of GLOB traded up $2.23 during trading hours on Tuesday, reaching $119.66. 263,163 shares of the company traded hands, compared to its average volume of 607,046. The stock has a market capitalization of $5.27 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The stock has a fifty day simple moving average of $122.82 and a 200 day simple moving average of $184.45. Globant has a fifty-two week low of $96.23 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Research analysts predict that Globant will post 5.73 EPS for the current fiscal 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.