Analysts Set Globant S.A. (NYSE:GLOB) Price Target at $224.00

Globant S.A. (NYSE:GLOB) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $224.00.

GLOB has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. Needham & Company LLC increased their target price on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. UBS Group reissued a “neutral” rating and issued a $235.00 target price (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. The Goldman Sachs Group began coverage on Globant in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock.

Globant Stock Performance

Shares of GLOB opened at $207.34 on Friday. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 54.42, a PEG ratio of 2.61 and a beta of 1.39. The firm has a 50 day moving average price of $196.98 and a 200-day moving average price of $185.89.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.04 earnings per share. As a group, equities research analysts predict that Globant will post 5.02 earnings per share for the current year.

Institutional Investors Weigh In On Globant

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Accent Capital Management LLC bought a new position in shares of Globant in the fourth quarter worth approximately $29,000. Quarry LP boosted its holdings in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the period. Ridgewood Investments LLC purchased a new stake in Globant in the 2nd quarter worth $31,000. BOKF NA raised its holdings 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 period. Finally, ORG Partners LLC lifted its position in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

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.