Globant S.A. (NYSE:GLOB) Receives $246.59 Average Price Target from Brokerages

Shares of Globant S.A. (NYSE:GLOB) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $244.24.

GLOB has been the topic of a number of recent research reports. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $230.00 target price on shares of Globant in a research report on Tuesday, February 20th. HSBC reduced their price objective on shares of Globant from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Mizuho reissued a “buy” rating and set a $279.00 price target (down from $283.00) on shares of Globant in a report on Tuesday, February 20th. Finally, KeyCorp upped their price objective on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, February 16th.

Globant Stock Down 2.3 %

Shares of GLOB stock opened at $179.14 on Friday. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 49.35, a P/E/G ratio of 1.39 and a beta of 1.35. Globant has a 12-month low of $135.40 and a 12-month high of $251.50. The firm has a fifty day moving average of $205.08 and a 200-day moving average of $212.09.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLOB. National Bank of Canada FI raised its holdings in Globant by 1.9% in the 3rd quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock valued at $693,000 after buying an additional 65 shares during the last quarter. CWM LLC raised its holdings in shares of Globant by 20.9% in the 3rd quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock worth $100,000 after acquiring an additional 87 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in Globant during the 3rd quarter worth $112,000. Moody National Bank Trust Division lifted its position in shares of Globant by 86.2% during the 3rd quarter. Moody National Bank Trust Division now owns 8,100 shares of the information technology services provider’s stock worth $1,603,000 after buying an additional 3,750 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its stake in shares of Globant by 3,000.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 3,100 shares of the information technology services provider’s stock worth $613,000 after purchasing an additional 3,000 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.