Globant SA (GLOB) Rating Increased to Hold at Zacks Investment Research
Globant SA (NYSE:GLOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Globant S.A. is a technology services provider. The Company provides engineering, design, and innovation services for clients. Globant offers content management systems; and e-commerce applications. It is also involved in the provision of data management solutions; and quality assurance engagement strategy, mobile testing, test automation, load and performance testing, and game testing services. It provides various software solutions primarily in North America, Europe, Latin America, and internationally. Globant S.A. is based in Luxembourg. “
GLOB has been the topic of a number of other research reports. Cantor Fitzgerald reissued a “hold” rating and set a $35.00 price target on shares of Globant SA in a research note on Tuesday, July 5th. Wedbush assumed coverage on Globant SA in a research note on Thursday, September 8th. They set an “outperform” rating and a $48.00 price target on the stock. Citigroup Inc. increased their price target on Globant SA from $41.00 to $48.50 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Pacific Crest reissued a “hold” rating on shares of Globant SA in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $28.00 price target on shares of Globant SA in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $38.14.
Globant SA (NYSE:GLOB) traded down 2.12% on Tuesday, reaching $43.92. The company had a trading volume of 167,265 shares. The stock has a market capitalization of $1.51 billion, a P/E ratio of 46.23 and a beta of 1.19. The firm has a 50-day moving average of $40.92 and a 200-day moving average of $38.77. Globant SA has a 12 month low of $22.50 and a 12 month high of $44.95.
Globant SA (NYSE:GLOB) last announced its earnings results on Wednesday, August 10th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.81 million. Globant SA had a return on equity of 20.00% and a net margin of 11.46%. Globant SA’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities research analysts expect that Globant SA will post $1.19 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. Parametric Portfolio Associates LLC raised its position in Globant SA by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 56,624 shares of the company’s stock valued at $2,228,000 after buying an additional 442 shares during the period. Fisher Asset Management LLC raised its position in Globant SA by 11.4% in the second quarter. Fisher Asset Management LLC now owns 7,100 shares of the company’s stock valued at $285,000 after buying an additional 726 shares during the period. Geode Capital Management LLC raised its position in Globant SA by 8.5% in the first quarter. Geode Capital Management LLC now owns 16,370 shares of the company’s stock valued at $505,000 after buying an additional 1,280 shares during the period. Tower Research Capital LLC TRC bought a new position in Globant SA during the second quarter valued at approximately $108,000. Finally, KCG Holdings Inc. bought a new position in Globant SA during the second quarter valued at approximately $230,000. 61.24% of the stock is currently owned by institutional investors.
Globant SA Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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