Globant S.A. (NYSE:GLOB) Receives $98.67 Consensus Price Target from Brokerages

Globant S.A. (NYSE:GLOB) has been assigned an average rating of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $98.6667.

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Citigroup upgraded shares of Globant to a “hold” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, November 14th. UBS Group reissued a “neutral” rating and issued a $70.00 target price on shares of Globant in a research note on Tuesday, December 2nd. Finally, Needham & Company LLC lowered their price target on Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, November 14th.

Institutional Trading of Globant

Several hedge funds and other institutional investors have recently bought and sold shares of GLOB. Brooklyn Investment Group raised its stake in shares of Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Allworth Financial LP raised its position in Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. raised its position in Globant by 352.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 352 shares during the period. SJS Investment Consulting Inc. lifted its stake in Globant by 27,766.7% in the third quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 833 shares during the last quarter. Finally, CWM LLC boosted its position in Globant by 35.4% during the third quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock valued at $49,000 after buying an additional 225 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 0.2%

Globant stock opened at $67.73 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. Globant has a fifty-two week low of $54.36 and a fifty-two week high of $229.81. The stock has a market cap of $2.98 billion, a P/E ratio of 30.65, a PEG ratio of 6.39 and a beta of 1.24. The firm’s fifty day moving average price is $62.02 and its 200-day moving average price is $72.69.

Globant (NYSE:GLOB) last posted its 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 business had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Globant’s quarterly revenue was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Equities research analysts forecast that Globant will post 5.73 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 1st that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.