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

Shares of Globant S.A. (NYSE:GLOB) have received a consensus rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $222.90.

A number of research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. JPMorgan Chase & Co. raised their target price on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Scotiabank upped their price target on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 21st.

Globant Price Performance

Shares of GLOB opened at $189.10 on Monday. Globant has a one year low of $151.68 and a one year high of $251.50. The company has a market cap of $8.15 billion, a PE ratio of 49.63, a P/E/G ratio of 2.49 and a beta of 1.40. The stock has a 50-day moving average of $195.34 and a 200-day moving average of $186.79.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the firm posted $1.04 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Analysts expect that Globant will post 5.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Several institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC purchased a new stake in Globant during the fourth quarter valued at about $306,000. Charles Schwab Investment Management Inc. boosted its holdings in Globant by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock worth $9,988,000 after buying an additional 2,470 shares during the period. Principal Securities Inc. purchased a new position in Globant in the 4th quarter valued at approximately $56,000. Dimensional Fund Advisors LP grew its stake in Globant by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock valued at $65,135,000 after buying an additional 7,226 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Globant by 5.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock valued at $428,000 after acquiring an additional 100 shares during the period. 91.60% of the stock is owned by institutional investors.

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.