Globant S.A. (NYSE:GLOB) Given Average Recommendation of “Moderate Buy” by Analysts

Globant S.A. (NYSE:GLOB) has been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $216.44.

A number of brokerages have weighed in on GLOB. KeyCorp reduced their price target on Globant from $272.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. HSBC decreased their price objective on shares of Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Canaccord Genuity Group cut their target price on shares of Globant from $230.00 to $175.00 and set a “hold” rating for the company in a research report on Friday, May 17th. Citigroup lowered their price target on Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Globant in a research report on Thursday, June 13th.

Globant Price Performance

Shares of GLOB stock opened at $177.87 on Wednesday. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock’s 50-day moving average is $170.04 and its two-hundred day moving average is $200.34. The firm has a market cap of $7.66 billion, a P/E ratio of 46.69, a PEG ratio of 1.85 and a beta of 1.41.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.01. The firm had revenue of $571.08 million for the quarter, compared to analyst estimates of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. As a group, research analysts expect that Globant will post 5 EPS for the current year.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its stake in Globant by 4.7% in the 2nd quarter. Park Avenue Securities LLC now owns 7,969 shares of the information technology services provider’s stock valued at $1,421,000 after buying an additional 357 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Globant by 30.0% during the second quarter. Quent Capital LLC now owns 4,338 shares of the information technology services provider’s stock valued at $773,000 after acquiring an additional 1,000 shares during the period. Moody National Bank Trust Division grew its stake in Globant by 25.0% during the second quarter. Moody National Bank Trust Division now owns 10,050 shares of the information technology services provider’s stock worth $1,792,000 after buying an additional 2,013 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Globant by 82.0% during the second quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock worth $90,000 after buying an additional 228 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in shares of Globant in the first quarter valued at approximately $297,000. 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.