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

Globant S.A. (NYSE:GLOB) has received a consensus rating of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $98.6667.

GLOB has been the topic of a number of research analyst reports. Citigroup raised Globant to a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research report on Monday. Jefferies Financial Group lowered shares of Globant from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $61.00 in a research report on Thursday, November 20th. UBS Group reissued a “neutral” rating and issued a $70.00 price target on shares of Globant in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, November 14th.

Globant Stock Performance

GLOB traded up $2.25 during trading on Wednesday, hitting $68.25. The stock had a trading volume of 103,226 shares, compared to its average volume of 1,242,388. The firm has a market cap of $3.00 billion, a PE ratio of 30.93, a P/E/G ratio of 6.36 and a beta of 1.24. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16. Globant has a 12 month low of $54.36 and a 12 month high of $229.81. The company has a 50 day simple moving average of $62.30 and a 200-day simple moving average of $72.25.

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

Globant announced that its Board of Directors has authorized a stock buyback program 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 buy up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC boosted its stake in Globant by 32.1% during the first quarter. LPL Financial LLC now owns 41,376 shares of the information technology services provider’s stock worth $4,755,000 after buying an additional 10,054 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Globant by 32.4% during the 1st quarter. Atria Wealth Solutions Inc. now owns 4,356 shares of the information technology services provider’s stock valued at $513,000 after acquiring an additional 1,067 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Globant by 31.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 25,029 shares of the information technology services provider’s stock valued at $2,946,000 after acquiring an additional 5,967 shares during the period. Citigroup Inc. increased its stake in Globant by 18.8% in the first quarter. Citigroup Inc. now owns 144,185 shares of the information technology services provider’s stock valued at $16,973,000 after acquiring an additional 22,776 shares during the period. Finally, National Bank of Canada FI raised its position in Globant by 56.4% in the first quarter. National Bank of Canada FI now owns 9,441 shares of the information technology services provider’s stock worth $1,109,000 after purchasing an additional 3,404 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

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.