Globant S.A. (NYSE:GLOB - Free Report) - Equities research analysts at Scotiabank dropped their FY2024 earnings estimates for Globant in a research report issued on Wednesday, January 8th. Scotiabank analyst D. Goyal now forecasts that the information technology services provider will post earnings of $4.93 per share for the year, down from their prior estimate of $5.04. Scotiabank currently has a "Sector Perform" rating and a $220.00 price target on the stock. The consensus estimate for Globant's current full-year earnings is $5.01 per share. Scotiabank also issued estimates for Globant's FY2025 earnings at $5.68 EPS.
GLOB has been the subject of several other research reports. Canaccord Genuity Group reissued a "hold" rating and set a $205.00 price target on shares of Globant in a report on Monday, November 18th. Susquehanna initiated coverage on shares of Globant in a report on Tuesday, December 17th. They issued a "positive" rating and a $255.00 price objective for the company. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a report on Sunday, November 24th. TD Cowen upped their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Citigroup upped their price objective on shares of Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $230.44.
Read Our Latest Stock Analysis on GLOB
Globant Stock Performance
Shares of GLOB traded down $2.53 during midday trading on Monday, hitting $204.95. 131,702 shares of the stock traded hands, compared to its average volume of 308,115. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The firm has a market capitalization of $8.83 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. The business's 50 day moving average price is $221.17 and its two-hundred day moving average price is $205.87.
Hedge Funds Weigh In On Globant
A number of hedge funds have recently added to or reduced their stakes in GLOB. Wasatch Advisors LP grew its holdings in Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider's stock valued at $689,553,000 after purchasing an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock valued at $469,316,000 after purchasing an additional 153,385 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider's stock valued at $299,162,000 after purchasing an additional 1,431,112 shares during the last quarter. Sei Investments Co. grew its holdings in Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock valued at $91,432,000 after purchasing an additional 155,112 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock valued at $78,851,000 after purchasing an additional 161,512 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.
About Globant
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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.
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