Globant S.A. (NYSE:GLOB) Receives Average Recommendation of “Buy” from Analysts

Shares of Globant S.A. (NYSE:GLOB) have earned an average recommendation of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $324.56.

Several brokerages have commented on GLOB. Piper Sandler upped their target price on shares of Globant from $300.00 to $352.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Zacks Investment Research downgraded shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, November 24th. The Goldman Sachs Group raised shares of Globant from a “neutral” rating to a “buy” rating and upped their target price for the company from $235.00 to $395.00 in a research note on Tuesday, September 21st. William Blair reaffirmed an “outperform” rating on shares of Globant in a research note on Friday, November 19th. Finally, Citigroup upped their price target on shares of Globant from $310.00 to $370.00 and gave the company a “buy” rating in a report on Friday, November 19th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc boosted its holdings in Globant by 0.8% during the third quarter. NEXT Financial Group Inc now owns 4,612 shares of the information technology services provider’s stock worth $1,296,000 after purchasing an additional 35 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Globant by 7.8% during the second quarter. Belpointe Asset Management LLC now owns 582 shares of the information technology services provider’s stock worth $127,000 after purchasing an additional 42 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA boosted its holdings in Globant by 4.0% during the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 1,422 shares of the information technology services provider’s stock worth $447,000 after purchasing an additional 55 shares during the last quarter. Jag Capital Management LLC boosted its holdings in Globant by 2.4% during the third quarter. Jag Capital Management LLC now owns 2,788 shares of the information technology services provider’s stock worth $783,000 after purchasing an additional 65 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Globant by 1.7% during the third quarter. Xponance Inc. now owns 4,554 shares of the information technology services provider’s stock worth $1,280,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 88.26% of the company’s stock.

GLOB opened at $251.72 on Friday. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 121.60 and a beta of 1.45. The firm has a 50 day simple moving average of $288.09 and a 200 day simple moving average of $282.56. Globant has a fifty-two week low of $188.67 and a fifty-two week high of $354.62.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, November 18th. The information technology services provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. Globant had a net margin of 7.46% and a return on equity of 10.67%. The firm had revenue of $341.83 million during the quarter, compared to the consensus estimate of $326.80 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 65.0% on a year-over-year basis. As a group, equities analysts anticipate that Globant will post 2.82 earnings per share for the current fiscal year.

About Globant

Globant SA engages in the provision of information technology services. It offers application development and maintenance, testing, and infrastructure management. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.

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Analyst Recommendations for Globant (NYSE:GLOB)

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