Globant S.A. (GLOB) Stock Rating Upgraded by BidaskClub
Globant S.A. (NYSE:GLOB) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Other equities research analysts have also issued reports about the stock. Citigroup Inc. increased their target price on shares of Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. lowered shares of Globant from a “buy” rating to a “hold” rating and increased their price objective for the company from $43.00 to $48.00 in a report on Thursday, July 27th. They noted that the move was a valuation call. KeyCorp reaffirmed a “hold” rating on shares of Globant in a report on Thursday, September 28th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $42.00 price objective (up from $36.00) on shares of Globant in a report on Friday, August 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $43.20.
Globant (NYSE GLOB) opened at 41.20 on Thursday. The stock has a market cap of $1.44 billion, a PE ratio of 49.70 and a beta of 0.88. Globant has a 52 week low of $30.90 and a 52 week high of $47.51. The company’s 50-day moving average is $39.12 and its 200 day moving average is $39.69.
Globant (NYSE:GLOB) last released its earnings results on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.16). The firm had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $95.79 million. Globant had a return on equity of 15.08% and a net margin of 8.61%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. On average, analysts expect that Globant will post $1.25 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can grew its holdings in Globant by 1,002.4% during the 2nd quarter. Bank of Montreal Can now owns 2,337 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 2,125 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Globant by 175.3% during the 2nd quarter. D.A. Davidson & CO. now owns 4,275 shares of the information technology services provider’s stock valued at $185,000 after buying an additional 2,722 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Globant during the 2nd quarter valued at approximately $188,000. Eqis Capital Management Inc. purchased a new stake in Globant during the 2nd quarter valued at approximately $205,000. Finally, Bank of America Corp DE grew its holdings in Globant by 34.5% during the 1st quarter. Bank of America Corp DE now owns 5,153 shares of the information technology services provider’s stock valued at $188,000 after buying an additional 1,321 shares in the last quarter. 66.15% of the stock is owned by institutional investors and hedge funds.
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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