Scotiabank Comments on Globant’s FY2024 Earnings (NYSE:GLOB)

Globant S.A. (NYSE:GLOB) – Equities researchers at Scotiabank dropped their FY2024 earnings estimates for Globant in a note issued to investors on Wednesday, January 8th. Scotiabank analyst D. Goyal now anticipates that the information technology services provider will post earnings per share of $4.93 for the year, down from their prior estimate of $5.04. Scotiabank has a “Sector Perform” rating and a $220.00 price objective on the stock. The consensus estimate for Globant’s current full-year earnings is $5.01 per share. Scotiabank also issued estimates for Globant’s FY2025 earnings at $5.68 EPS.

Several other equities analysts also recently issued reports on the stock. Citigroup upped their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. JPMorgan Chase & Co. raised their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC boosted their price objective on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Susquehanna began coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and an average price target of $230.44.

Globant Price Performance

NYSE GLOB opened at $207.18 on Monday. The firm’s fifty day moving average price is $220.97 and its 200 day moving average price is $206.27. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 54.09, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GLOB. Equitable Trust Co. increased its holdings in shares of Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after purchasing an additional 50 shares in the last quarter. M&T Bank Corp increased its holdings in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after acquiring an additional 71 shares during the period. ORG Partners LLC boosted its stake in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.