Analysts Set Globant S.A. (NYSE:GLOB) Price Target at $54.62

Shares of Globant S.A. (NYSE:GLOB) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $54.6250.

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group dropped their price target on shares of Globant from $50.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, May 15th. UBS Group cut their price objective on Globant from $75.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. William Blair lowered shares of Globant from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 30th. Susquehanna cut their price objective on Globant from $90.00 to $78.00 and set a “positive” rating on the stock in a research report on Friday, May 15th. Finally, Itau BBA Securities lowered Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price target on the stock. in a research report on Wednesday, July 8th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in Globant by 65.1% in the 4th quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock worth $32,000 after buying an additional 190 shares in the last quarter. Allworth Financial LP lifted its holdings in Globant by 473.3% during the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 407 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Globant by 561.2% during the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 578 shares in the last quarter. GAMMA Investing LLC lifted its position in Globant by 34.3% during the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock valued at $47,000 after acquiring an additional 182 shares during the last quarter. Finally, MidFirst Bank purchased a new position in Globant during the 4th quarter worth $47,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Performance

Globant stock opened at $31.52 on Thursday. The firm’s fifty day moving average price is $34.64 and its 200-day moving average price is $45.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $1.38 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. Globant has a fifty-two week low of $27.56 and a fifty-two week high of $94.35.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Friday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.50. The firm had revenue of $607.09 million during the quarter, compared to analysts’ expectations of $601.65 million. Globant had a return on equity of 9.87% and a net margin of 4.46%.The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 EPS. On average, equities research analysts expect that Globant will post 4.9 earnings per share for the current fiscal year.

Globant announced that its board has authorized a stock repurchase program on Monday, May 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

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.