Globant S.A. (NYSE:GLOB) Receives $226.21 Consensus Target Price from Analysts

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $226.21.

Several equities analysts have recently weighed in on GLOB shares. StockNews.com downgraded Globant from a "hold" rating to a "sell" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, August 22nd. They issued a "hold" rating and a $210.00 target price for the company. TD Cowen boosted their price target on shares of Globant from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Finally, Scotiabank increased their price objective on shares of Globant from $200.00 to $210.00 and gave the company a "sector perform" rating in a report on Wednesday, August 21st.

Institutional Investors Weigh In On Globant

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BOKF NA lifted its stake in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 158 shares during the last quarter. Quarry LP lifted its position in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant in the 2nd quarter valued at $31,000. ORG Partners LLC raised its stake in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 76 shares in the last quarter. Finally, American National Bank & Trust lifted its position in Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 185 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Up 0.4 %

Shares of NYSE GLOB traded up $0.90 during midday trading on Tuesday, reaching $212.91. 245,118 shares of the stock were exchanged, compared to its average volume of 476,315. The firm has a 50-day simple moving average of $204.15 and a two-hundred day simple moving average of $188.29. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 55.28, a PEG ratio of 2.58 and a beta of 1.39.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the previous year, the business earned $1.04 EPS. Globant's revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts expect that Globant will post 5.06 EPS for the current fiscal 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.