Analysts Set Globant S.A. (NYSE:GLOB) Target Price at $244.82

Shares of Globant S.A. (NYSE:GLOB) have earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $244.82.

A number of research firms recently issued reports on GLOB. Citigroup increased their target price on shares of Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Guggenheim began coverage on shares of Globant in a report on Tuesday, March 19th. They set a “buy” rating and a $250.00 target price on the stock. Piper Sandler increased their price target on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $230.00 target price on shares of Globant in a research report on Tuesday, February 20th.

Institutional Trading of Globant

Several institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its stake in shares of Globant by 5.2% in the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock valued at $336,000 after purchasing an additional 63 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Globant by 29.5% in the first quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock valued at $910,000 after buying an additional 792 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Globant by 86.9% in the 1st quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock worth $36,988,000 after acquiring an additional 65,635 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock valued at $123,000 after acquiring an additional 85 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Globant by 36.6% during the first quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock worth $712,000 after purchasing an additional 728 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Down 1.4 %

NYSE:GLOB opened at $201.90 on Monday. The company has a market cap of $8.70 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.55 and a beta of 1.36. The firm’s 50 day moving average is $223.35 and its two-hundred day moving average is $213.21. Globant has a fifty-two week low of $135.40 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The firm had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Research analysts forecast that Globant will post 5.04 earnings per share for the current fiscal year.

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.