Globant SA’s Quiet Period Set To Expire on August 27th (NASDAQ:GLOB)
Globant SA’s (NASDAQ:GLOB) quiet period is set to expire on Wednesday, August 27th. Globant SA had issued 5,850,000 shares in its initial public offering on July 18th, ARN reports. The total size of the offering was $58,500,000 based on an initial share price of $10.00. During Globant SA’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Globant SA in a research note on Tuesday, August 12th. They set a “neutral” rating on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of Globant SA in a research note on Tuesday, August 12th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Globant SA in a research note on Tuesday, August 12th. They set an “overweight” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $15.00.
Globant SA (NASDAQ:GLOB) traded down 1.08% during mid-day trading on Friday, hitting $12.315. The stock had a trading volume of 3,179 shares. Globant SA has a 1-year low of $10.65 and a 1-year high of $13.25. The stock’s 50-day moving average is $11.67 and its 200-day moving average is $11.67. The company has a market cap of $357.1 million and a P/E ratio of 23.85.
Globant SA (NASDAQ:GLOB) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.02. The company had revenue of $49.40 million for the quarter, compared to the consensus estimate of $37.40 million. On average, analysts predict that Globant SA will post $0.72 earnings per share for the current fiscal year.
Globant SA is technologies services provider focused on delivering software solutions that leverage technologies and related market trends.
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