Analysts Set Globant S.A. (NYSE:GLOB) Target Price at $222.90

Globant S.A. (NYSE:GLOB) has earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $222.90.

A number of brokerages have weighed in on GLOB. TD Cowen upped their target price on Globant from $220.00 to $230.00 and gave the stock a “buy” 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 stock a “sector perform” rating in a research report on Wednesday, August 21st. KeyCorp lifted their target price on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. UBS Group reissued a “neutral” rating and issued a $235.00 price target (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Finally, StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th.

Hedge Funds Weigh In On Globant

A number of hedge funds have recently modified their holdings of the company. Accent Capital Management LLC purchased a new position in shares of Globant during the fourth quarter valued at approximately $29,000. BOKF NA raised its holdings in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares in the last quarter. Quarry LP lifted its position in shares of 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 purchasing an additional 143 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Globant during the 2nd quarter valued at about $31,000. Finally, Principal Securities Inc. purchased a new position in shares of Globant during the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 2.3 %

Shares of NYSE:GLOB opened at $189.10 on Monday. The company has a 50 day moving average of $195.34 and a 200 day moving average of $186.79. The stock has a market cap of $8.15 billion, a P/E ratio of 49.63, a P/E/G ratio of 2.49 and a beta of 1.40. Globant has a 12 month low of $151.68 and a 12 month high of $251.50.

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