Globant SA (GLOB) Price Target Lowered to $39.00 at Jefferies Group
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Globant SA from a sell rating to a hold rating in a report on Wednesday, September 14th. Cantor Fitzgerald restated a hold rating and issued a $43.00 price objective on shares of Globant SA in a research note on Wednesday, September 7th. Wedbush assumed coverage on shares of Globant SA in a research note on Thursday, September 8th. They issued an outperform rating and a $48.00 price objective on the stock. JPMorgan Chase & Co. restated a buy rating and issued a $28.00 price objective on shares of Globant SA in a research note on Tuesday, July 19th. Finally, Citigroup Inc. raised their price objective on shares of Globant SA from $41.00 to $48.50 and gave the stock a buy rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $40.34.
Globant SA (NYSE:GLOB) traded up 1.26% during mid-day trading on Wednesday, reaching $39.29. 98,904 shares of the company traded hands. The company has a market capitalization of $1.35 billion, a P/E ratio of 41.36 and a beta of 1.19. Globant SA has a 52-week low of $22.50 and a 52-week high of $47.19. The stock has a 50 day moving average price of $43.47 and a 200-day moving average price of $40.70.
Globant SA (NYSE:GLOB) last released its quarterly earnings data on Monday, November 14th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. Globant SA had a return on equity of 20.34% and a net margin of 11.32%. The firm earned $82.40 million during the quarter, compared to analyst estimates of $81.95 million. During the same quarter in the prior year, the company posted $0.26 EPS. The company’s quarterly revenue was up 22.8% on a year-over-year basis. Analysts expect that Globant SA will post $1.18 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in GLOB. Schwab Charles Investment Management Inc. raised its stake in shares of Globant SA by 60.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 39,751 shares of the company’s stock worth $1,565,000 after buying an additional 15,000 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Globant SA during the first quarter worth approximately $5,863,000. State Board of Administration of Florida Retirement System bought a new position in Globant SA during the second quarter valued at about $236,000. Global X Management Co. LLC raised its position in Globant SA by 35.1% in the second quarter. Global X Management Co. LLC now owns 74,675 shares of the company’s stock valued at $2,938,000 after buying an additional 19,388 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its position in Globant SA by 114.7% in the second quarter. BlackRock Advisors LLC now owns 137,615 shares of the company’s stock valued at $5,415,000 after buying an additional 73,522 shares during the period. Hedge funds and other institutional investors own 59.96% of the company’s stock.
About Globant SA
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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