Brokerages Set Globant S.A. (NYSE:GLOB) PT at $246.59

Globant S.A. (NYSE:GLOB) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $246.59.

Several brokerages have recently weighed in on GLOB. UBS Group increased their target price on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Needham & Company LLC increased their target price on shares of Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 26th. KeyCorp raised their price target on shares of Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $230.00 price target on shares of Globant in a research note on Tuesday, February 20th. Finally, Guggenheim started coverage on shares of Globant in a research note on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price target on the stock.

Institutional Trading of Globant

A number of institutional investors have recently bought and sold shares of GLOB. Private Advisor Group LLC boosted its stake in 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 worth $336,000 after purchasing an additional 63 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Globant by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock worth $910,000 after purchasing an additional 792 shares in the last quarter. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 65,635 shares in the last quarter. Loomis Sayles & Co. L P raised its position in 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 worth $123,000 after buying an additional 85 shares during the last quarter. Finally, Zions Bancorporation N.A. raised its position in Globant by 36.6% during the 1st quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock worth $712,000 after buying an additional 728 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of NYSE:GLOB opened at $179.29 on Friday. The firm has a fifty day moving average price of $209.46 and a 200 day moving average price of $212.80. Globant has a fifty-two week low of $135.40 and a fifty-two week high of $251.50. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 49.39, a P/E/G ratio of 1.36 and a beta of 1.35.

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 return on equity of 11.38% and a net margin of 7.56%. The company had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. As a group, research analysts predict that Globant will post 5.03 earnings per share for the current 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.