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

Globant S.A. (NYSE:GLOB) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $244.24.

A number of brokerages have recently weighed in on GLOB. UBS Group raised their price target on Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. raised their price target on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. HSBC dropped their price target on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. KeyCorp raised their price target on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Citigroup dropped their price target on Globant from $275.00 to $235.00 and set a “buy” rating for the company in a research report on Monday.

Globant Stock Performance

Globant stock opened at $180.90 on Friday. Globant has a one year low of $135.40 and a one year high of $251.50. The business has a fifty day moving average of $207.29 and a two-hundred day moving average of $212.53. The company has a market cap of $7.79 billion, a P/E ratio of 49.83, a price-to-earnings-growth ratio of 1.36 and a beta of 1.35.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The business had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Sell-side analysts predict that Globant will post 5.03 EPS for the current year.

Institutional Trading of Globant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Point Inc. purchased a new stake in Globant in the 4th quarter valued at about $1,741,000. DekaBank Deutsche Girozentrale grew its holdings in Globant by 146.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider’s stock valued at $10,734,000 after buying an additional 26,850 shares during the period. New York Life Investment Management LLC grew its holdings in Globant by 112.6% in the 3rd quarter. New York Life Investment Management LLC now owns 4,411 shares of the information technology services provider’s stock valued at $873,000 after buying an additional 2,336 shares during the period. Deutsche Bank AG grew its holdings in Globant by 1.2% in the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock valued at $27,316,000 after buying an additional 1,584 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Globant in the 4th quarter valued at about $4,587,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.