Globant S.A. (NYSE:GLOB - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $224.00.
A number of equities research analysts have commented on GLOB shares. Piper Sandler reissued an "overweight" rating and issued a $240.00 price objective (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Globant from $226.00 to $237.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. UBS Group reiterated a "neutral" rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. The Goldman Sachs Group started coverage on shares of Globant in a research report on Monday, June 24th. They set a "buy" rating and a $200.00 target price for the company. Finally, KeyCorp raised their price target on shares of Globant from $220.00 to $235.00 and gave the company an "overweight" rating in a research report on Friday, August 16th.
Check Out Our Latest Report on Globant
Several institutional investors have recently added to or reduced their stakes in the business. Artemis Investment Management LLP bought a new stake in shares of Globant in the third quarter valued at approximately $4,594,000. GAMMA Investing LLC grew its stake in Globant by 56.7% in the 3rd quarter. GAMMA Investing LLC now owns 793 shares of the information technology services provider's stock valued at $157,000 after buying an additional 287 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Globant by 42.2% during the third quarter. Handelsbanken Fonder AB now owns 11,800 shares of the information technology services provider's stock worth $2,338,000 after acquiring an additional 3,500 shares in the last quarter. American National Bank & Trust boosted its holdings in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 185 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in shares of Globant in the second quarter valued at $474,000. 91.60% of the stock is owned by hedge funds and other institutional investors.
Shares of GLOB opened at $209.48 on Friday. The firm has a market cap of $9.03 billion, a PE ratio of 54.98, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The business's 50 day moving average price is $196.28 and its two-hundred day moving average price is $185.89.
Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same period in the prior year, the firm earned $1.04 earnings per share. Globant's revenue was up 18.1% on a year-over-year basis. Research analysts predict that Globant will post 5.02 EPS for the current fiscal year.
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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