Globant S.A. (NYSE:GLOB) Given Average Rating of “Hold” by Brokerages

Shares of Globant S.A. (NYSE:GLOB) have been assigned an average recommendation of “Hold” from the eighteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $97.75.

A number of analysts have recently weighed in on GLOB shares. The Goldman Sachs Group cut their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Canaccord Genuity Group cut their price target on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 14th. Jefferies Financial Group lowered Globant from a “buy” rating to a “hold” rating and reduced their price target for the company from $80.00 to $61.00 in a research report on Thursday, November 20th. William Blair reissued an “outperform” rating on shares of Globant in a research report on Wednesday, December 31st. Finally, UBS Group reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Globant in a report on Monday, January 19th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. Lecap Asset Management Ltd. purchased a new stake in shares of Globant in the second quarter valued at about $1,855,000. Invesco Ltd. increased its position in Globant by 199.1% in the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after acquiring an additional 1,881,940 shares during the period. SG Americas Securities LLC raised its stake in Globant by 791.2% during the 3rd quarter. SG Americas Securities LLC now owns 57,735 shares of the information technology services provider’s stock valued at $3,313,000 after acquiring an additional 51,257 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its position in Globant by 50.0% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the information technology services provider’s stock worth $3,615,000 after acquiring an additional 21,000 shares during the period. Finally, Entropy Technologies LP grew its stake in shares of Globant by 98.9% in the 2nd quarter. Entropy Technologies LP now owns 31,467 shares of the information technology services provider’s stock valued at $2,858,000 after purchasing an additional 15,648 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of GLOB stock opened at $65.75 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. The firm has a market cap of $2.89 billion, a P/E ratio of 29.75, a P/E/G ratio of 7.21 and a beta of 1.19. The firm’s 50 day moving average price is $67.28 and its 200-day moving average price is $66.35. Globant has a one year low of $54.36 and a one year high of $228.98.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.02). Globant had a return on equity of 10.39% and a net margin of 4.01%.The firm had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. During the same quarter in the prior year, the business earned $1.63 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. As a group, equities research analysts predict that Globant will post 5.73 EPS for the current year.

About Globant

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.