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

Key Points

• Globant S.A. has received an average rating of "Moderate Buy" from analysts, with seven hold recommendations and eight buy recommendations among the fifteen firms covering the stock.
• The company recently reported a quarterly EPS of $1.53, slightly beating analysts' expectations, and had a revenue of $614.18 million, marking a 4.5% year-over-year increase.
• Several hedge funds significantly increased their stakes in Globant, with notable purchases including Invesco Ltd., which grew its stake by 199.1% during the second quarter.

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $139.4667.

A number of research analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Needham & Company LLC dropped their price objective on Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Piper Sandler downgraded Globant from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Globant by 199.1% during the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider's stock worth $256,819,000 after buying an additional 1,881,940 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Globant by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider's stock valued at $200,709,000 after purchasing an additional 98,863 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Globant by 34.1% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider's stock valued at $99,972,000 after purchasing an additional 280,081 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Globant by 20.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,006,175 shares of the information technology services provider's stock valued at $91,401,000 after purchasing an additional 168,700 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Globant by 293.5% in the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider's stock valued at $117,716,000 after purchasing an additional 745,848 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Price Performance

GLOB stock opened at $67.20 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The firm has a market capitalization of $2.96 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.98 and a beta of 1.17. The business's 50-day moving average is $82.20 and its two-hundred day moving average is $108.38. Globant has a 1 year low of $64.51 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The business had revenue of $614.18 million for the quarter, compared to the consensus estimate of $612.66 million. During the same quarter in the prior year, the business posted $1.51 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Analysts anticipate that Globant will post 5.73 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.