Goldman Sachs took its Globant [GLOB] rating to the equivalent of Neutral from Buy, and the price target to $210.0 from $190, in a research note dated 2021-01-11. That figure represents around a -8.7% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Itau BBA’s analysts upgrading the shares from “a Market perform” rating to “an Outperform” rating in a research note to investors issued in late September. Meanwhile, Piper Sandler had launched its coverage on GLOB with “an Overweight”, in a research note produced for clients May 22, 2020. In addition, there was a downgrade from Itau BBA on May 12, 2020. The rater changed GLOB from “an Outperform” to “a Market perform”.
Is Globant S.A. [NYSE:GLOB] a Good Buy Right Now?
It should be noted that GLOB technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 24% Buy in the past month. Data from Globant S.A.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.2 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.22 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.21 million shares.
GLOB Price Performance
On Wall Street, Globant S.A. [NYSE:GLOB] finished Friday’s session up 5.62% at $230.00. The stock went up to $230.47 at the same session while its lowest single day price was $217.54. In the last five days, it saw a rise of about 5.69%, Globant S.A. shares gained by almost 5.69% since the beginning of the year. However, the share price has dropped to as low as 3.02% below its one year high. On 01/08/21, the company shares recorded $230.47, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $202.52. The company’s shares have inclined by 103.09% in the past year. The 50-day SMA achieved is $195.53 while the 200-day SMA is $162.99. Volume gained to 0.24 million from 0.21 million in the previous session.
Globant S.A. [GLOB] Valuation Measures
Notably, Globant S.A. [GLOB] stock cannot be classified as a good candidate in the listing of underestimated low-priced Software – Application companies to purchase soonest possible with the prevailing 12-month PE ratio of 182.39. The measure means the stock is exchanging at a premium as compared to the 32.29x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 11.25 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 2.97 which means GLOB serve an unattractive investment opportunity compared to its competitors.
GLOB Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 221.54 level, and in case of violation of this particular level, it will cause more drop to 213.07 level. On the upper level, 238.93 is still the key resistance. The stock may increase to the subsequent resistance at 234.47. The Relative Strength Index (RSI) pinned on the 14-day chart is 66.03, implying a neutral technical stance while the MACD stands at 0.20, meaning price will decrease in the next trading period. Percent R indicator moved to 1.68%, implying bullish price movement. Stochastic %K at 69.69% suggest selling the stock.
What is the short interest in Globant S.A.?
Short interest in the Globant S.A. stock has surged, increasing by 0.1 million shares to total 0.76 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.86 million, data from Yahoo Finance shows. The decrease of -13.6% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.96% of the overall float for the stock.
Globant S.A.’s Biggest Shareholders: Who Owns Globant S.A. [GLOB]?
Filings by GIC Pte Ltd. showed that the firm now holds a total of 2,959,167 shares or roughly 7.48% of the outstanding GLOB shares. This means their shares have increased by 970,953 from the 2,959,167 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Wasatch Advisors, Inc. updated stake is worth $412,138,064. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 1.38% stake valued at $336,641,913 while SSgA Funds Management, Inc. cut theirs at $289,225,308. During the last quarter, BlackRock Fund Advisors raised 24,351 of its shares in Globant S.A. while SSgA Funds Management, Inc. sold -104 shares. The Riverbridge Partners LLC’s holdings currently number 1,429,559 shares at $328798570.0. According to the firm’s last 13F report, Fidelity Management & Research Co shares in the company at filing stood at 1,261,008 shares, roughly $237,926,989.
GLOB Earnings Forecast For The Current Quarter
Globant S.A. [GLOB] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $221.22M and an earnings per share of $0.66 for Dec 2020. Looking further ahead, the company is expected to report revenue of $232.01M at an EPS of $0.68 for Mar 2021. The estimates represent upside of 24.90% and 26.98% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
GLOB Earnings Estimates For The Current Year
For the financial year, Globant S.A. [NYSE:GLOB] is expected to bring in revenue of $801.62M. The returns are nearly $142.29 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 2.42, higher than that of FY19 by $0.13. Estimates put this year’s earnings growth at 5.70%, 26.90% for the next, and at an annual 100.00% over the next 5-year period. As for sales, forecasts are for an increase of 21.60% in the current fiscal year and a further 24.90% over the following year.