Globant S.A. (NYSE:GLOB) Receives $244.82 Consensus Price Target from Analysts

Globant S.A. (NYSE:GLOB) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $244.82.

GLOB has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “hold” rating and set a $230.00 price objective on shares of Globant in a report on Tuesday, February 20th. Canaccord Genuity Group started coverage on shares of Globant in a research note on Wednesday, December 6th. They set a “hold” rating and a $230.00 price target for the company. Citigroup increased their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Mizuho restated a “buy” rating and set a $279.00 price objective (down from $283.00) on shares of Globant in a report on Tuesday, February 20th. Finally, TheStreet upgraded Globant from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. New York Life Investment Management LLC grew its holdings in Globant by 112.6% in the third quarter. New York Life Investment Management LLC now owns 4,411 shares of the information technology services provider’s stock worth $873,000 after purchasing an additional 2,336 shares during the last quarter. Deutsche Bank AG grew its stake in Globant by 1.2% during the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock worth $27,316,000 after buying an additional 1,584 shares during the last quarter. Northern Trust Corp increased its position in Globant by 10.8% during the 2nd quarter. Northern Trust Corp now owns 161,189 shares of the information technology services provider’s stock valued at $28,969,000 after buying an additional 15,732 shares in the last quarter. Martin Currie Ltd. raised its stake in Globant by 30.7% in the third quarter. Martin Currie Ltd. now owns 362,894 shares of the information technology services provider’s stock valued at $71,799,000 after buying an additional 85,310 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Globant in the third quarter worth about $1,398,000. Institutional investors own 91.60% of the company’s stock.

Globant Trading Down 1.4 %

GLOB stock opened at $201.90 on Monday. Globant has a 12 month low of $135.40 and a 12 month high of $251.50. The stock has a market cap of $8.70 billion, a PE ratio of 55.62, a P/E/G ratio of 1.55 and a beta of 1.36. The company has a 50-day moving average price of $223.35 and a 200 day moving average price of $213.21.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The business had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Sell-side analysts forecast that Globant will post 5.04 EPS for the current year.

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.