Brokerages Set Globant S.A. (GLOB) Target Price at $44.86
Globant S.A. (NYSE:GLOB) has been given a consensus rating of “Buy” by the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $44.33.
Several brokerages have recently issued reports on GLOB. Cowen and Company reaffirmed a “buy” rating and set a $50.00 price objective on shares of Globant in a report on Thursday, October 12th. BidaskClub raised Globant from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. Citigroup Inc. upped their price objective on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. SunTrust Banks, Inc. cut Globant from a “buy” rating to a “hold” rating and upped their price objective for the stock from $43.00 to $48.00 in a report on Thursday, July 27th. They noted that the move was a valuation call. Finally, KeyCorp reaffirmed a “hold” rating on shares of Globant in a report on Thursday, September 28th.
A number of institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC grew its position in Globant by 12.5% in the 3rd quarter. Fisher Asset Management LLC now owns 19,016 shares of the information technology services provider’s stock valued at $762,000 after acquiring an additional 2,116 shares during the last quarter. Wasatch Advisors Inc. grew its position in Globant by 6.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,531,564 shares of the information technology services provider’s stock valued at $66,531,000 after acquiring an additional 94,412 shares during the last quarter. Koch Industries Inc. bought a new position in Globant in the 2nd quarter valued at $376,000. Grandeur Peak Global Advisors LLC grew its position in Globant by 0.8% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock valued at $22,633,000 after acquiring an additional 3,975 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Globant in the 2nd quarter valued at $466,000. 66.12% of the stock is currently owned by institutional investors.
Shares of Globant (GLOB) traded down 0.79% during midday trading on Wednesday, reaching $40.39. 67,851 shares of the company were exchanged. The company has a 50 day moving average price of $39.76 and a 200-day moving average price of $40.14. Globant has a 12-month low of $30.90 and a 12-month high of $47.51. The stock has a market capitalization of $1.41 billion, a P/E ratio of 48.72 and a beta of 0.88.
Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.16). Globant had a return on equity of 15.08% and a net margin of 8.61%. The business had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $95.79 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, analysts forecast that Globant will post $1.25 earnings per share for the current fiscal year.
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.
Receive News & Stock Ratings for Globant S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant S.A. and related stocks with our FREE daily email newsletter.