Globant S.A. (NYSE:GLOB) Receives $98.67 Average PT from Brokerages

Shares of Globant S.A. (NYSE:GLOB) have received a consensus rating of “Hold” from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $97.00.

A number of equities analysts have recently weighed in on GLOB shares. Wells Fargo & Company upgraded Globant to a “hold” rating in a research note on Wednesday, October 22nd. Needham & Company LLC dropped their price target on Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, November 14th. JPMorgan Chase & Co. reduced their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. Finally, UBS Group reiterated a “neutral” rating and set a $70.00 target price on shares of Globant in a research note on Tuesday, December 2nd.

Globant Trading Up 5.0%

Shares of Globant stock opened at $70.03 on Friday. The company has a market capitalization of $3.08 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 6.12 and a beta of 1.21. The stock has a fifty day simple moving average of $64.67 and a 200 day simple moving average of $69.22. Globant has a 12-month low of $54.36 and a 12-month high of $228.98. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The company had revenue of $617.14 million for the quarter, compared to the consensus estimate of $615.32 million. During the same quarter last year, the business posted $1.63 earnings per share. Globant’s revenue was up .4% on a year-over-year basis. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. On average, sell-side analysts anticipate that Globant will post 5.73 earnings per share for the current fiscal year.

Globant announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Globant

Hedge funds have recently modified their holdings of the stock. ARGA Investment Management LP grew its stake in shares of Globant by 14,073.7% during the 3rd quarter. ARGA Investment Management LP now owns 2,057,594 shares of the information technology services provider’s stock worth $118,065,000 after acquiring an additional 2,043,077 shares during the period. Invesco Ltd. lifted its holdings in Globant by 199.1% during the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after purchasing an additional 1,881,940 shares during the last quarter. Alliancebernstein L.P. boosted its position in Globant by 6,875.8% during the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock worth $84,413,000 after purchasing an additional 915,924 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Globant by 601.5% in the third quarter. BNP Paribas Financial Markets now owns 783,930 shares of the information technology services provider’s stock worth $44,982,000 after purchasing an additional 672,175 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Globant by 493.8% in the third quarter. Two Sigma Investments LP now owns 660,296 shares of the information technology services provider’s stock worth $37,888,000 after purchasing an additional 549,089 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.