Globant SA (GLOB) Rating Increased to Hold at Zacks Investment Research
Globant SA (NYSE:GLOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Several other equities analysts have also recently weighed in on the stock. Citigroup Inc. lifted their price objective on shares of Globant SA from $41.00 to $48.50 and gave the stock a “buy” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $28.00 price objective on shares of Globant SA in a research report on Tuesday, July 19th. Pacific Crest initiated coverage on shares of Globant SA in a research report on Tuesday, July 12th. They set a “sector weight” rating on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $35.00 price objective on shares of Globant SA in a research report on Wednesday, June 29th. Finally, Wedbush started coverage on shares of Globant SA in a report on Thursday, September 8th. They set an “outperform” rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.14.
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Globant SA (NYSE:GLOB) traded down 2.12% on Tuesday, reaching $43.92. The company’s stock had a trading volume of 167,265 shares. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 46.23 and a beta of 1.19. Globant SA has a 1-year low of $22.50 and a 1-year high of $44.95. The stock has a 50 day moving average price of $40.92 and a 200-day moving average price of $38.77.
Globant SA (NYSE:GLOB) last posted its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.81 million. During the same period in the previous year, the company posted $0.25 EPS. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. Equities analysts predict that Globant SA will post $1.19 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Globant SA by 8.5% in the first quarter. Geode Capital Management LLC now owns 16,370 shares of the company’s stock valued at $505,000 after buying an additional 1,280 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Globant SA by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 1,666,919 shares of the company’s stock valued at $51,442,000 after buying an additional 518,466 shares during the last quarter. Prudential Financial Inc. raised its stake in Globant SA by 1,395.6% in the first quarter. Prudential Financial Inc. now owns 100,950 shares of the company’s stock valued at $3,115,000 after buying an additional 94,200 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Globant SA during the first quarter valued at about $5,863,000. Finally, Global X Management Co. LLC raised its stake in Globant SA by 35.1% in the second quarter. Global X Management Co. LLC now owns 74,675 shares of the company’s stock valued at $2,938,000 after buying an additional 19,388 shares during the last quarter. 61.24% of the stock is owned by institutional investors and hedge funds.
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.
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