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Shares of Globant S.A. (NYSE:GLOB – Get Rating) have been given an average recommendation of “Moderate Buy” by the ten analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $268.71.
GLOB has been the subject of several recent analyst reports. Cowen lifted their price target on Globant from $220.00 to $248.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Cowen lifted their price target on Globant from $220.00 to $248.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Piper Sandler lifted their price target on Globant from $231.00 to $249.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. KeyCorp initiated coverage on Globant in a research report on Monday, September 12th. They issued an “overweight” rating and a $291.00 price target for the company. Finally, The Goldman Sachs Group decreased their target price on Globant from $360.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th.
Globant Stock Up 1.3 %
NYSE:GLOB opened at $210.41 on Thursday. The stock has a market cap of $8.81 billion, a P/E ratio of 69.90 and a beta of 1.46. The firm’s fifty day simple moving average is $211.71 and its 200 day simple moving average is $212.23. Globant has a twelve month low of $159.56 and a twelve month high of $354.62.
Globant (NYSE:GLOB – Get Rating) last released its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Globant had a net margin of 8.26% and a return on equity of 11.53%. The business had revenue of $429.30 million for the quarter, compared to analysts’ expectations of $426.22 million. During the same quarter in the previous year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, analysts expect that Globant will post 4.09 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank N A MO purchased a new stake in shares of Globant during the 1st quarter worth approximately $29,000. Urban Wealth Management LLC purchased a new stake in shares of Globant during the 2nd quarter worth approximately $29,000. HM Payson & Co. raised its holdings in shares of Globant by 2,171.4% during the 4th quarter. HM Payson & Co. now owns 159 shares of the information technology services provider’s stock worth $50,000 after acquiring an additional 152 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Globant by 852.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 324 shares of the information technology services provider’s stock worth $55,000 after acquiring an additional 290 shares in the last quarter. Finally, Castle Wealth Management LLC purchased a new stake in shares of Globant during the 2nd quarter worth approximately $71,000. 88.96% of the stock is currently owned by institutional investors.
About Globant
(Get Rating)
Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
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