Globant S.A. (NYSE:GLOB) Receives $246.59 Consensus PT from Analysts

Globant S.A. (NYSE:GLOB) has received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on 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 analysts have recently commented on GLOB shares. Needham & Company LLC upped their target price on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Mizuho restated a “buy” rating and issued a $279.00 target price (down previously from $283.00) on shares of Globant in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Canaccord Genuity Group restated a “hold” rating and issued a $230.00 target price on shares of Globant in a research note on Tuesday, February 20th. Finally, UBS Group increased their price target on Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th.

Hedge Funds Weigh In On Globant

A number of hedge funds have recently made changes to their positions in GLOB. Accent Capital Management LLC acquired a new stake in shares of Globant in the fourth quarter valued at approximately $29,000. CI Investments Inc. increased its holdings in shares of Globant by 122.0% in the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Globant in the fourth quarter valued at approximately $56,000. GAMMA Investing LLC acquired a new stake in shares of Globant in the fourth quarter valued at approximately $68,000. Finally, CWM LLC increased its holdings in shares of Globant by 20.9% in the third quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 87 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

Shares of GLOB stock opened at $180.90 on Friday. The stock’s 50-day simple moving average is $207.29 and its 200-day simple moving average is $212.53. The firm has a market capitalization of $7.79 billion, a PE ratio of 49.83, a P/E/G ratio of 1.36 and a beta of 1.35. Globant has a fifty-two week low of $135.40 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share 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 firm had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Sell-side analysts forecast that Globant will post 5.03 earnings per share for the current year.

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.