Globant (NYSE:GLOB) Now Covered by The Goldman Sachs Group

Analysts at The Goldman Sachs Group assumed coverage on shares of Globant (NYSE:GLOB) in a research report issued on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $200.00 price target on the information technology services provider’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 14.89% from the company’s current price.

Other analysts have also recently issued research reports about the company. Mizuho cut their target price on Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. cut their target price on Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Citigroup cut their target price on Globant from $235.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Wedbush cut their target price on Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 17th. Finally, TD Cowen cut their price target on Globant from $235.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.44.

Globant Stock Up 0.2 %

NYSE GLOB opened at $174.08 on Monday. The stock’s 50-day moving average price is $170.70 and its 200-day moving average price is $204.52. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The company has a market capitalization of $7.50 billion, a P/E ratio of 45.69, a price-to-earnings-growth ratio of 1.77 and a beta of 1.40.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. Research analysts anticipate that Globant will post 5.02 EPS for the current year.

Hedge Funds Weigh In On Globant

Institutional investors and hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Globant in the 4th quarter worth approximately $490,000. Trust Point Inc. purchased a new position in shares of Globant in the 4th quarter worth approximately $1,741,000. Franklin Resources Inc. boosted its holdings in shares of Globant by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock worth $3,016,000 after purchasing an additional 111 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Globant by 146.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider’s stock worth $10,734,000 after purchasing an additional 26,850 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Globant by 0.5% in the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock worth $315,052,000 after purchasing an additional 6,707 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.