Globant S.A. (NYSE:GLOB) Receives $216.72 Average Target Price from Analysts

Globant S.A. (NYSE:GLOB) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $217.28.

Several equities research analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on Globant in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 target price on shares of Globant in a report on Thursday, June 13th. UBS Group raised shares of Globant from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $240.00 to $230.00 in a research report on Tuesday, May 28th. TD Cowen reduced their price target on shares of Globant from $235.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $238.00 price objective on shares of Globant in a research report on Tuesday, July 23rd.

Institutional Investors Weigh In On Globant

A number of large investors have recently bought and sold shares of GLOB. Wasatch Advisors LP lifted its position in shares of Globant by 6.8% in the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after buying an additional 213,049 shares during the last quarter. Capital International Investors raised its stake in shares of Globant by 0.5% in the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares in the last quarter. Jennison Associates LLC lifted its holdings in Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after purchasing an additional 714,162 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Globant by 36.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock worth $167,797,000 after purchasing an additional 189,204 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in Globant during the second quarter valued at approximately $99,396,000. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Down 1.4 %

Shares of Globant stock opened at $191.93 on Friday. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a market cap of $8.27 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 2.00 and a beta of 1.41. The company’s 50-day moving average price is $175.29 and its two-hundred day moving average price is $196.36.

Globant (NYSE:GLOB) last released its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. On average, equities analysts predict that Globant will post 5 EPS for the current fiscal 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.