Zacks Investment Research downgraded shares of Globant SA (NYSE:GLOB) from a hold rating to a sell rating in a research note published on Friday.

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. “

A number of other brokerages also recently commented on GLOB. Citigroup Inc. increased their price objective on shares of Globant SA from $41.00 to $48.50 and gave the company a buy rating in a research report on Thursday, August 11th. Wedbush began coverage on shares of Globant SA in a research report on Thursday, September 8th. They issued an outperform rating and a $48.00 target price on the stock. Cantor Fitzgerald reaffirmed a hold rating and issued a $43.00 target price on shares of Globant SA in a research report on Monday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Globant SA from $43.00 to $45.00 and gave the company an overweight rating in a research report on Thursday, August 11th. Finally, Jefferies Group dropped their target price on shares of Globant SA from $40.00 to $39.00 and set a hold rating on the stock in a research report on Wednesday, November 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $40.34.

Shares of Globant SA (NYSE:GLOB) traded down 0.70% during trading on Friday, reaching $38.16. 39,389 shares of the company traded hands. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 40.17 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 firm’s 50 day moving average price is $43.46 and its 200-day moving average price is $40.73.

Globant SA (NYSE:GLOB) last announced its earnings results on Monday, November 14th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.01. Globant SA had a return on equity of 19.58% and a net margin of 11.32%. The business had revenue of $82.40 million for the quarter, compared to analysts’ expectations of $81.95 million. During the same period in the previous year, the company earned $0.26 earnings per share. Globant SA’s quarterly revenue was up 22.8% on a year-over-year basis. Equities analysts anticipate that Globant SA will post $1.15 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG increased its position in Globant SA by 190.1% in the first quarter. UBS Group AG now owns 17,420 shares of the company’s stock valued at $538,000 after buying an additional 11,415 shares during the period. Wellington Management Group LLP increased its stake in shares of Globant SA by 5.9% in the first quarter. Wellington Management Group LLP now owns 240,288 shares of the company’s stock worth $7,416,000 after buying an additional 13,448 shares during the period. 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. Fisher Asset Management LLC increased its stake in shares of Globant SA by 11.4% in the second quarter. Fisher Asset Management LLC now owns 7,100 shares of the company’s stock worth $285,000 after buying an additional 726 shares during the period. Finally, Fis Group Inc. purchased a new stake in shares of Globant SA during the second quarter worth approximately $451,000. Hedge funds and other institutional investors own 62.65% 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.

5 Day Chart for NYSE:GLOB

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