According to Bloomberg.com, the eleven different research firms that cover Globant S.A. (NYSE: GLOB) have provided the company with a recommendation of “Moderate Buy” as the overall consensus rating for the investment.
This rating represents the overall recommendation for purchasing the investment.
There are seven market analysts who favor buying the stock, while only one endorses the idea of holding on to the stock in one’s portfolio.
The average price target for the stock provided by analysts who have covered the stock in the preceding year is set at $230.11 for the period that will follow the next 12 months.
In the most recent few months, significant investors have been seen rebalancing their holdings within the company.
During the third quarter, Price T. Rowe Associates INC (MD) achieved a 150.2% increase in the proportion of Globant shares it owned.
After making additional purchases totaling 1,602,875 shares during the most recent fiscal quarter, Price T. Rowe Associates INC (MD) now holds 2,670,352 of the information technology services provider’s shares in their portfolio.
The current price of the stock is calculated to be $499,571,000. JPMorgan Chase & Co raised the amount of Globant stock owned by 77.1% during the year’s second quarter. JPMorgan Chase & Co now has a total of 3,377,320 shares of the company, which has a market cap of $587,653,000, following the purchase of an additional 1,469,846 shares during the time above period.
Pendal Group Ltd increased its holdings in Globant during the third quarter, bringing the total value of its holdings to approximately $256,020,000 at the time.
The Schroder Investment Management Group’s holdings in Globant saw a 5,250.3% increase over the final three months of 2018. Schroder Investment Management Group now has a total of 531,763 shares of the stock of the information technology services provider following the purchase of an additional 521,824 shares during the most recent period.
The value of these shares on the market currently is $89,421,000.
Last but not least, during the last three months of 2018, Norges Bank completed the purchase of an additional stake in Globant that was estimated to be worth approximately $71,313,000.
Institutions own most of the stock (93.01% of the time, to be exact).
Several equity analysts have contributed their expertise to recent reports on GLOB shares.
In a research note distributed on November 21, Citigroup announced that they had reduced their price objective for Globant from $270.00 to $225.00.
They further suggested “buying” the company’s stock.
The price objective for Globant has been lowered from $291.00 to $232.00, as stated in a research note made public by KeyCorp on Friday, November 18.
Additionally, an “overweight” rating was given to the company’s stock by the company. HSBC published a research note on Thursday, February 2, announcing it would begin covering Globant.
They encouraged people to “buy” the stock and set a price objective of $240.00. JPMorgan Chase & Co decreased their target price on Globant from $224.00 to $221.00 in a research report published on Tuesday, February 14.
In addition to that, they assigned an “overweight” rating to the stock.
Piper Sandler raised their rating of Globant to “overweight” in a research report published on Friday, February 17, marking an improvement from their previous rating of “underweight.”
When trading on GLOB shares began on Thursday, the stock price was $153.69.
The stock is currently trading at $165.53, below both the 50-day and the 200-day simple moving averages, currently sitting at $177.99 and $198.00, respectively.
During the last year, Globant reached its all-time high of $282.13 and its all-time low of $145.42 on multiple occasions.
Both the price-to-earnings ratio and the beta value for the company come in at 1.43, and it has a price-to-earnings ratio of 44.16.
The company’s total value, as represented by its market capitalization, is $6.52 billion.
The most recent earnings report made public by Globant (NYSE: GLOB) was issued on February 16 of this year.
The information technology services company reported earnings per share for the quarter of $1.12, which was $0.02 lower than the consensus expectation of $1.14. Globant had a return on equity of 12.09%, and the net margin for the company was 8.36%.
The company’s sales for the quarter came in at $490.72 million, significantly higher than the industry experts’ forecasted revenue of $489.67 million for the company to bring in during the period in question.
According to the opinions of market specialists, the average estimate for earnings per share for Globant this year is 4.63 dollars.
Globant SA is the name of a business that operates in the information technology field and offers various related services.
It includes the entire process of developing and testing applications, as well as managing application infrastructure and maintaining applications.
In 2003, the individuals Martn Migoya, Martn Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti were the ones who took the first steps toward forming the corporation.
The headquarters of the company can be found in Luxembourg.