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

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have received an average rating of "Moderate Buy" from the sixteen brokerages that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $179.19.

Several research analysts have weighed in on GLOB shares. Guggenheim reiterated a "buy" rating and issued a $125.00 target price on shares of Globant in a research note on Tuesday, June 10th. Susquehanna reduced 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. Scotiabank reduced their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Finally, Canaccord Genuity Group reduced their price target on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th.

Globant Stock Performance

Shares of GLOB stock traded down $0.43 during midday trading on Wednesday, hitting $87.58. The company had a trading volume of 1,252,453 shares, compared to its average volume of 716,217. The company's 50 day simple moving average is $108.15 and its 200 day simple moving average is $155.55. Globant has a 52-week low of $86.68 and a 52-week high of $238.32. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.69 and a beta of 1.24. 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 announced its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The company had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. During the same quarter last year, the business posted $1.53 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that Globant will post 5.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globant

Several hedge funds and other institutional investors have recently bought and sold shares of GLOB. Blue Trust Inc. raised its holdings in Globant by 4,810.0% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider's stock worth $105,000 after purchasing an additional 481 shares during the last quarter. Congress Asset Management Co. acquired a new position in Globant during the fourth quarter worth $249,000. Principal Financial Group Inc. raised its holdings in Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider's stock worth $27,060,000 after purchasing an additional 95,848 shares during the last quarter. Truist Financial Corp raised its holdings in Globant by 2.6% during the fourth quarter. Truist Financial Corp now owns 21,703 shares of the information technology services provider's stock worth $4,654,000 after purchasing an additional 557 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Globant during the fourth quarter worth $38,000. 91.60% of the stock is owned by institutional investors and hedge funds.

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.