Globant S.A. (NYSE:GLOB) Given Consensus Rating of “Hold” by Analysts

Globant S.A. (NYSE:GLOB) has earned a consensus rating of “Hold” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $64.8125.

A number of equities research analysts recently weighed in on GLOB shares. The Goldman Sachs Group dropped their price target on shares of Globant from $68.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 15th. Mizuho cut their target price on shares of Globant from $91.00 to $76.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Needham & Company LLC dropped their price objective on shares of Globant from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Guggenheim lowered their price objective on shares of Globant from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Wells Fargo & Company dropped their price target on shares of Globant from $57.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Friday, March 27th.

Institutional Investors Weigh In On Globant

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in Globant by 27.6% in the 3rd quarter. Principal Financial Group Inc. now owns 185,263 shares of the information technology services provider’s stock worth $10,630,000 after purchasing an additional 40,024 shares during the period. ING Groep NV bought a new stake in shares of Globant during the 3rd quarter valued at about $8,657,000. Maxi Investments CY Ltd purchased a new position in shares of Globant during the fourth quarter valued at about $2,255,000. Border to Coast Pensions Partnership Ltd raised its stake in Globant by 38.3% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 214,167 shares of the information technology services provider’s stock worth $12,289,000 after buying an additional 59,330 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Globant by 106.7% in the third quarter. Citigroup Inc. now owns 324,199 shares of the information technology services provider’s stock worth $18,603,000 after buying an additional 167,341 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of Globant stock opened at $37.67 on Wednesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.65 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. The business has a fifty day simple moving average of $42.44 and a 200-day simple moving average of $53.39. Globant has a 12 month low of $32.50 and a 12 month high of $104.18.

Globant (NYSE:GLOB) last posted its earnings results on Friday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Globant had a net margin of 4.46% and a return on equity of 9.87%. The firm had revenue of $607.09 million for the quarter, compared to the consensus estimate of $601.66 million. During the same period in the prior year, the business posted $1.50 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts anticipate that Globant will post 4.93 EPS for the current fiscal year.

Globant declared that its board has authorized a stock buyback plan on Monday, May 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About Globant

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.