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

Shares of Globant S.A. (NYSE:GLOB) have received a consensus recommendation of “Hold” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $52.75.

Several equities analysts have recently issued reports on GLOB shares. Deutsche Bank Aktiengesellschaft set a $33.00 price target on Globant in a research report on Friday, July 10th. UBS Group dropped their target price on shares of Globant from $75.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Needham & Company LLC decreased their target price on Globant from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 15th. The Goldman Sachs Group dropped their target price on shares of Globant from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 15th. Finally, TD Cowen cut their target price on shares of Globant from $59.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, July 9th.

Institutional Trading of Globant

Large investors have recently modified their holdings of the company. Pzena Investment Management LLC purchased a new stake in Globant during the first quarter valued at $136,893,000. Alliancebernstein L.P. boosted its position in Globant by 6,875.8% in the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock worth $84,413,000 after purchasing an additional 915,924 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Globant by 601.5% in the third quarter. BNP Paribas Financial Markets now owns 783,930 shares of the information technology services provider’s stock worth $44,982,000 after purchasing an additional 672,175 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Globant by 340.3% during the 4th quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock valued at $53,323,000 after purchasing an additional 630,440 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Globant by 493.8% during the 3rd quarter. Two Sigma Investments LP now owns 660,296 shares of the information technology services provider’s stock valued at $37,888,000 after purchasing an additional 549,089 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Globant stock opened at $32.72 on Thursday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.43 billion, a P/E ratio of 13.30, a PEG ratio of 1.18 and a beta of 1.06. The stock’s 50 day moving average is $34.50 and its 200 day moving average is $45.11. Globant has a twelve month low of $27.56 and a twelve month 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 for the quarter, meeting analysts’ consensus estimates of $1.50. Globant had a return on equity of 9.87% and a net margin of 4.46%.The company had revenue of $607.09 million during the quarter, compared to analyst estimates of $601.65 million. During the same quarter last year, the company earned $1.50 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts predict that Globant will post 4.9 earnings per share for the current fiscal year.

Globant declared that its board has authorized a stock repurchase plan on Monday, May 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the information technology services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Globant Company Profile

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.