Globant (NYSE:GLOB) Upgraded at Citigroup

Citigroup upgraded shares of Globant (NYSE:GLOB) to a hold rating in a report published on Thursday morning,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a report on Thursday, July 17th. They set a “hold” rating and a $87.00 price target for the company. The Goldman Sachs Group decreased their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. UBS Group cut their price target on shares of Globant from $120.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Needham & Company LLC decreased their price objective on shares of Globant from $115.00 to $85.00 and set a “buy” rating for the company in a report on Friday, August 15th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $97.00 target price (down from $165.00) on shares of Globant in a research note on Thursday, June 26th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $122.13.

Globant Stock Performance

Globant stock opened at $59.69 on Thursday. The stock has a market cap of $2.63 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 5.69 and a beta of 1.17. The firm’s fifty day moving average price is $60.84 and its 200-day moving average price is $85.53. Globant has a fifty-two week low of $54.36 and a fifty-two week high of $238.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. The business had revenue of $614.18 million for the quarter, compared to analysts’ expectations of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, equities research analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has approved a share buyback program on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GLOB. Brooklyn Investment Group boosted its position in shares of Globant by 194.4% in the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock valued at $31,000 after purchasing an additional 155 shares during the period. Allworth Financial LP boosted its holdings in Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after buying an additional 197 shares during the period. Bessemer Group Inc. bought a new position in Globant in the 1st quarter worth $39,000. Finally, Signaturefd LLC increased its stake in Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock worth $46,000 after buying an additional 89 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

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.