Wedbush reissued their outperform rating on shares of Globant S.A. (NYSE:GLOB) in a research note published on Saturday. The brokerage currently has a $48.00 target price on the information technology services provider’s stock.

A number of other research analysts have also commented on the stock. BidaskClub upgraded shares of Globant from a hold rating to a buy rating in a research note on Wednesday, July 19th. KeyCorp reiterated a hold rating on shares of Globant in a research note on Thursday, September 28th. Cowen and Company reiterated a buy rating and set a $50.00 price objective on shares of Globant in a research note on Thursday, October 12th. Citigroup Inc. raised their price objective on shares of Globant from $42.00 to $49.00 and gave the company a buy rating in a research note on Wednesday, July 19th. Finally, Cantor Fitzgerald reiterated a neutral rating and set a $42.00 price objective (up previously from $36.00) on shares of Globant in a research note on Friday, August 18th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $44.86.

Shares of Globant (NYSE:GLOB) opened at 42.02 on Friday. Globant has a 1-year low of $30.90 and a 1-year high of $47.51. The firm’s 50-day moving average price is $39.41 and its 200 day moving average price is $40.01. The stock has a market capitalization of $1.47 billion, a P/E ratio of 50.69 and a beta of 0.88.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.16). The business had revenue of $99.60 million for the quarter, compared to the consensus estimate of $95.79 million. Globant had a net margin of 8.61% and a return on equity of 15.08%. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. Analysts expect that Globant will post $1.25 EPS for the current fiscal year.

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A number of institutional investors have recently bought and sold shares of the business. Capital World Investors grew its position in Globant by 0.4% in the second quarter. Capital World Investors now owns 3,009,468 shares of the information technology services provider’s stock worth $130,731,000 after buying an additional 12,293 shares during the last quarter. JPMorgan Chase & Co. grew its position in Globant by 13.1% in the second quarter. JPMorgan Chase & Co. now owns 2,580,601 shares of the information technology services provider’s stock worth $112,101,000 after buying an additional 297,985 shares during the last quarter. Wasatch Advisors Inc. grew its position in Globant by 6.6% in the second quarter. Wasatch Advisors Inc. now owns 1,531,564 shares of the information technology services provider’s stock worth $66,531,000 after buying an additional 94,412 shares during the last quarter. Riverbridge Partners LLC acquired a new position in Globant in the second quarter worth approximately $43,179,000. Finally, Wellington Management Group LLP grew its position in Globant by 89.7% in the first quarter. Wellington Management Group LLP now owns 528,374 shares of the information technology services provider’s stock worth $19,233,000 after buying an additional 249,838 shares during the last quarter. Hedge funds and other institutional investors own 66.12% of the company’s stock.

Globant 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.

Analyst Recommendations for Globant (NYSE:GLOB)

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