Globant S.A. (NYSE:GLOB) Receives $179.19 Consensus PT from Analysts

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

GLOB has been the topic of a number of research reports. Canaccord Genuity Group dropped their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a report on Monday, May 19th. Susquehanna dropped 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. Guggenheim dropped their target price on shares of Globant from $150.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th.

Hedge Funds Weigh In On Globant

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

Globant Stock Down 2.4%

Shares of NYSE GLOB traded down $2.41 during trading on Friday, reaching $99.24. 428,799 shares of the stock were exchanged, compared to its average volume of 686,439. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The business's 50-day moving average price is $114.55 and its 200 day moving average price is $171.57. Globant has a twelve month low of $88.03 and a twelve month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The company's revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 earnings per share. As a group, sell-side analysts expect that Globant will post 5.73 earnings per share 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.