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

Globant S.A. (NYSE:GLOB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $179.19.

GLOB has been the subject of a number of recent research reports. Needham & Company LLC lowered their target price on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Susquehanna reduced their price objective on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Canaccord Genuity Group cut their target price on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research note on Monday, February 24th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Finally, Guggenheim reduced their price target on Globant from $150.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, May 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Globant in the 4th quarter worth about $16,737,000. Cullen Frost Bankers Inc. grew its position in shares of Globant by 5.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after buying an additional 2,505 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after buying an additional 203,472 shares in the last quarter. NS Partners Ltd bought a new position in shares of Globant during the 4th quarter worth $18,933,000. Finally, Segall Bryant & Hamill LLC boosted its position in Globant by 364.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider's stock valued at $25,315,000 after purchasing an additional 92,661 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Stock Performance

Shares of NYSE:GLOB traded up $0.07 during midday trading on Friday, reaching $98.97. 88,170 shares of the company's stock traded hands, compared to its average volume of 686,039. Globant has a 1 year low of $88.03 and a 1 year high of $238.32. The company has a market cap of $4.36 billion, a P/E ratio of 26.60, a PEG ratio of 2.38 and a beta of 1.37. The company has a fifty day simple moving average of $113.92 and a two-hundred day simple moving average of $171.07.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same period last year, the business earned $1.53 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast 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.