Globant S.A. (NYSE:GLOB - Get Rating) has earned an average rating of "Moderate Buy" from the ten research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $231.13.
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Several equities analysts recently issued reports on the company. Cowen dropped their price target on Globant from $210.00 to $207.00 and set an "outperform" rating on the stock in a research report on Friday, November 18th. JPMorgan Chase & Co. boosted their price target on Globant from $223.00 to $224.00 in a research report on Thursday, December 15th. Cowen dropped their price target on Globant from $210.00 to $207.00 and set an "outperform" rating on the stock in a research report on Friday, November 18th. StockNews.com started coverage on Globant in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Finally, Citigroup lowered their price objective on Globant from $270.00 to $225.00 and set a "buy" rating on the stock in a report on Monday, November 21st.
Globant Stock Performance
GLOB opened at $163.43 on Wednesday. The business's 50-day simple moving average is $171.93 and its 200-day simple moving average is $188.82. Globant has a one year low of $154.40 and a one year high of $286.63. The stock has a market capitalization of $6.85 billion, a P/E ratio of 50.29 and a beta of 1.40.
Globant (NYSE:GLOB - Get Rating) last issued its quarterly earnings results on Thursday, November 17th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). The company had revenue of $458.88 million during the quarter, compared to analyst estimates of $457.30 million. Globant had a net margin of 8.31% and a return on equity of 11.76%. On average, equities research analysts forecast that Globant will post 4.08 EPS for the current fiscal year.
Institutional Investors Weigh In On Globant
Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Globant by 1,068.8% in the 3rd quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider's stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Urban Wealth Management LLC purchased a new stake in shares of Globant during the 2nd quarter worth approximately $29,000. First Horizon Advisors Inc. boosted its stake in shares of Globant by 852.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 324 shares of the information technology services provider's stock worth $55,000 after acquiring an additional 290 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Globant by 1,729.4% during the 3rd quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 294 shares in the last quarter. Finally, Castle Wealth Management LLC purchased a new stake in shares of Globant during the 2nd quarter worth approximately $71,000. Hedge funds and other institutional investors own 93.01% of the company's stock.
Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
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