Brokerages Set Globant S.A. (NYSE:GLOB) Price Target at $216.56

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $216.56.

A number of equities research analysts have weighed in on GLOB shares. Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. Piper Sandler decreased their price objective on Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Susquehanna started coverage on shares of Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 target price on the stock. StockNews.com upgraded Globant from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, JPMorgan Chase & Co. reduced their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st.

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Globant Stock Performance

GLOB stock traded up $5.10 during midday trading on Friday, reaching $107.71. The company's stock had a trading volume of 72,163 shares, compared to its average volume of 576,508. Globant has a 1 year low of $96.23 and a 1 year high of $238.32. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.38 and a beta of 1.50. The stock has a fifty day simple moving average of $162.80 and a two-hundred day simple moving average of $196.80.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, analysts forecast that Globant will post 5.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC acquired a new stake in shares of Globant during the 4th quarter valued at about $38,000. Kestra Investment Management LLC purchased a new stake in shares of Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter worth approximately $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant during the 4th quarter valued at approximately $45,000. Finally, Promus Capital LLC acquired a new stake in Globant in the 4th quarter valued at $64,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

About Globant

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.