Brokerages Set Globant S.A. (NYSE:GLOB) PT at $205.88

Globant S.A. (NYSE:GLOB) has earned an average rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $204.00.

Several research firms have recently weighed in on GLOB. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. UBS Group dropped their price target on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group lifted their target price on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st.

Globant Price Performance

Globant stock opened at $119.28 on Tuesday. Globant has a 12-month low of $96.23 and a 12-month high of $238.32. The stock has a market capitalization of $5.25 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. The firm has a 50 day simple moving average of $122.08 and a 200-day simple moving average of $183.58.

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

Institutional Investors Weigh In On Globant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. Parcion Private Wealth LLC increased its stake in shares of Globant by 82.7% in the first quarter. Parcion Private Wealth LLC now owns 1,975 shares of the information technology services provider’s stock worth $232,000 after acquiring an additional 894 shares during the last quarter. Victory Capital Management Inc. grew its stake in Globant by 6.2% in the first quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider’s stock valued at $200,709,000 after purchasing an additional 98,863 shares in the last quarter. Signaturefd LLC increased its position in Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock worth $46,000 after purchasing an additional 89 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Globant during the 1st quarter worth about $902,000. Finally, Stephens Investment Management Group LLC lifted its holdings in shares of Globant by 1.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 291,410 shares of the information technology services provider’s stock valued at $34,305,000 after buying an additional 3,943 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.