Analysts Set Globant S.A. (NYSE:GLOB) Price Target at $179.19

Globant S.A. (NYSE:GLOB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $179.19.

A number of analysts recently commented on the stock. Scotiabank decreased their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a report on Tuesday, April 29th. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and lifted their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. UBS Group decreased their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Susquehanna reduced their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new position in Globant in the 1st quarter worth approximately $1,065,000. Vancity Investment Management Ltd acquired a new position in Globant in the 1st quarter worth approximately $896,000. Goldman Sachs Group Inc. boosted its stake in 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 worth $8,739,000 after purchasing an additional 30,386 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Globant in the 1st quarter worth approximately $2,403,000. Finally, Scientech Research LLC acquired a new position in Globant in the 1st quarter worth approximately $889,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Performance

Globant stock traded down $1.03 during midday trading on Friday, hitting $97.87. 1,318,793 shares of the company's stock were exchanged, compared to its average volume of 691,633. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The firm's 50 day simple moving average is $113.28 and its 200 day simple moving average is $170.13. Globant has a 12-month low of $88.03 and a 12-month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued 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 6.86% and a return on equity of 11.83%. The firm had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. During the same period in the previous year, the firm earned $1.53 EPS. The firm's revenue was up 7.0% on a year-over-year basis. On average, equities research analysts forecast that Globant will post 5.73 EPS 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.