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

Shares of Globant S.A. (NYSE:GLOBGet Free Report) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $216.44.

A number of research firms recently commented on GLOB. Citigroup lowered their price target on shares of Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Scotiabank lowered their target price on Globant from $200.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Friday, May 17th. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price target on shares of Globant in a research note on Thursday, June 13th. Mizuho decreased their price objective on Globant from $279.00 to $252.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, Wedbush dropped their price objective on shares of Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 17th.

Read Our Latest Stock Analysis on GLOB

Globant Price Performance

Shares of Globant stock opened at $177.87 on Wednesday. The firm has a market cap of $7.66 billion, a PE ratio of 46.69, a P/E/G ratio of 1.85 and a beta of 1.41. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The stock has a fifty day moving average price of $170.04 and a 200-day moving average price of $200.34.

Globant (NYSE:GLOBGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $571.08 million during 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%. As a group, equities analysts anticipate that Globant will post 5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new position in shares of Globant in the 4th quarter worth about $29,000. BOKF NA grew its position in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. Principal Securities Inc. bought a new position in Globant during the fourth quarter valued at approximately $56,000. RiverPark Advisors LLC purchased a new position in shares of Globant during the first quarter worth approximately $54,000. Finally, GAMMA Investing LLC bought a new stake in shares of Globant in the 4th quarter worth approximately $68,000. Institutional investors own 91.60% of the company’s stock.

Globant Company Profile

(Get Free Report

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.

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Analyst Recommendations for Globant (NYSE:GLOB)

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