Globant S.A. (NYSE:GLOB) Receives $221.88 Consensus Price Target from Brokerages


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Globant S.A. (NYSE:GLOB) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $225.33.

Several research analysts have recently issued reports on GLOB shares. JPMorgan Chase & Co. boosted their price objective on shares of Globant from $203.00 to $236.00 and gave the stock an “overweight” rating in a report on Friday, February 19th. Citigroup upped their price target on Globant from $220.00 to $240.00 in a report on Friday, February 19th. Zacks Investment Research raised Globant from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a report on Monday. The Goldman Sachs Group lowered Globant from a “buy” rating to a “neutral” rating and upped their target price for the company from $190.00 to $210.00 in a research note on Monday, January 11th. Finally, Grupo Santander initiated coverage on Globant in a research report on Wednesday, March 10th. They issued a “buy” rating and a $230.00 target price for the company.

A number of hedge funds have recently made changes to their positions in GLOB. Private Capital Group LLC grew its stake in Globant by 378.4% during the first quarter. Private Capital Group LLC now owns 177 shares of the information technology services provider’s stock worth $37,000 after buying an additional 140 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new stake in Globant during the 4th quarter valued at $46,000. Contravisory Investment Management Inc. raised its position in Globant by 1,300.0% in the 4th quarter. Contravisory Investment Management Inc. now owns 238 shares of the information technology services provider’s stock valued at $52,000 after purchasing an additional 221 shares during the last quarter. HM Payson & Co. acquired a new position in Globant in the third quarter worth $56,000. Finally, Paces Ferry Wealth Advisors LLC bought a new stake in shares of Globant during the third quarter worth $66,000. 89.97% of the stock is owned by hedge funds and other institutional investors.

GLOB traded down $0.40 during midday trading on Thursday, reaching $228.13. The company’s stock had a trading volume of 84,544 shares, compared to its average volume of 190,435. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $213.58 and a 200 day simple moving average of $205.37. The stock has a market cap of $9.13 billion, a P/E ratio of 181.06 and a beta of 1.24. Globant has a twelve month low of $101.67 and a twelve month high of $244.72.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 18th. The information technology services provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.20. Globant had a net margin of 6.40% and a return on equity of 10.92%. The business had revenue of $232.64 million for the quarter, compared to the consensus estimate of $222.05 million. Sell-side analysts expect that Globant will post 1.76 earnings per share for the current year.

Globant Company Profile

Globant SA operates as a technology services company worldwide. The company offers transformational programs, ROI and cost efficiency, new revenue streams, E-mission, sustainability today, up with climate, organizational design, leadership mindset and organizational upskilling, cultural strategy, talent journeys, change management, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, strategic architecture consulting, platforms evolution, and augmented composable services.

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Analyst Recommendations for Globant (NYSE:GLOB)

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