Globant SA (GLOB) Upgraded to Hold by Zacks Investment Research
Globant SA (NYSE:GLOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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. “
GLOB has been the topic of several other research reports. Cantor Fitzgerald restated a “hold” rating and set a $35.00 price objective on shares of Globant SA in a report on Tuesday, July 5th. Wedbush began coverage on shares of Globant SA in a report on Thursday, September 8th. They set an “outperform” rating and a $48.00 price objective on the stock. Citigroup Inc. boosted their price objective on shares of Globant SA from $41.00 to $48.50 and gave the stock a “buy” rating in a report on Thursday, August 11th. Pacific Crest restated a “hold” rating on shares of Globant SA in a report on Thursday, August 11th. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $28.00 price objective on shares of Globant SA in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $38.14.
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Shares of Globant SA (NYSE:GLOB) traded down 2.12% during midday trading on Tuesday, hitting $43.92. 167,265 shares of the company’s stock traded hands. The company has a 50 day moving average price of $40.92 and a 200 day moving average price of $38.77. The firm 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.
Globant SA (NYSE:GLOB) last announced its earnings results on Wednesday, August 10th. The company reported $0.29 EPS 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 the consensus estimate of $76.81 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. Equities analysts anticipate that Globant SA will post $1.19 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Globant SA by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 1,666,919 shares of the company’s stock worth $51,442,000 after buying an additional 518,466 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Globant SA by 62.3% in the second quarter. BlackRock Fund Advisors now owns 715,914 shares of the company’s stock worth $28,171,000 after buying an additional 274,738 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Globant SA during the first quarter worth about $5,863,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Globant SA by 89.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 327,942 shares of the company’s stock worth $12,905,000 after buying an additional 154,959 shares during the last quarter. Finally, State Street Corp raised its position in shares of Globant SA by 61.4% in the second quarter. State Street Corp now owns 379,438 shares of the company’s stock worth $14,933,000 after buying an additional 144,324 shares during the last quarter. Institutional investors own 61.24% of the company’s stock.
Globant SA 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.
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