Globant S.A. (NYSE:GLOB) Receives $222.90 Average Price Target from Brokerages

Shares of Globant S.A. (NYSE:GLOB) have received an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $222.90.

Several equities analysts recently commented on the stock. KeyCorp upped their target price on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Scotiabank upped their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. Piper Sandler reissued an “overweight” rating and set a $240.00 target price (up from $238.00) on shares of Globant in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target on the stock. Finally, Needham & Company LLC raised their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th.

Institutional Investors Weigh In On Globant

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC bought a new position in shares of Globant in the fourth quarter worth about $306,000. Charles Schwab Investment Management Inc. lifted its holdings in Globant by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock worth $9,988,000 after buying an additional 2,470 shares in the last quarter. Principal Securities Inc. bought a new position in Globant in the 4th quarter valued at $56,000. Dimensional Fund Advisors LP boosted its holdings in Globant by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock valued at $65,135,000 after acquiring an additional 7,226 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Globant by 5.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock worth $428,000 after buying an additional 100 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Shares of GLOB opened at $191.21 on Monday. The company has a market capitalization of $8.24 billion, a PE ratio of 50.19, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. Globant has a one year low of $151.68 and a one year high of $251.50. The company’s fifty day moving average price is $195.38 and its 200 day moving average price is $187.28.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. Analysts anticipate that Globant will post 5.01 earnings per share for the current year.

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.