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

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $179.19.

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC decreased their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 16th. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and raised their target price for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Guggenheim decreased their price target on shares of Globant from $150.00 to $125.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Finally, The Goldman Sachs Group downgraded Globant from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $225.00 to $120.00 in a report on Friday, May 16th.

Institutional Trading of Globant

Hedge funds have recently added to or reduced their stakes in the company. Vancity Investment Management Ltd purchased a new position in Globant in the first quarter valued at $896,000. Goldman Sachs Group Inc. increased its stake in shares of Globant by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider's stock valued at $8,739,000 after purchasing an additional 30,386 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Globant in the 1st quarter worth about $2,403,000. Scientech Research LLC purchased a new position in Globant during the first quarter worth approximately $889,000. Finally, Petrus Trust Company LTA purchased a new position in Globant during the first quarter worth approximately $204,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB traded up $1.07 during mid-day trading on Friday, reaching $101.69. 1,131,861 shares of the company's stock traded hands, compared to its average volume of 687,411. The stock's 50-day moving average is $115.10 and its two-hundred day moving average is $172.06. Globant has a 12 month low of $88.03 and a 12 month high of $238.32. The stock has a market cap of $4.48 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last announced 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 net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same period last year, the company earned $1.53 EPS. The business's revenue was up 7.0% compared to the same quarter last year. Research analysts predict that Globant will post 5.73 earnings per share for the current 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.