Globant SA (GLOB) Receives Consensus Rating of “Buy” from Brokerages
Globant SA (NYSE:GLOB) has been assigned an average recommendation of “Buy” from the thirteen analysts that are covering the stock. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $40.14.
A number of brokerages have recently commented on GLOB. Cantor Fitzgerald reissued a “hold” rating and issued a $35.00 price objective on shares of Globant SA in a research report on Tuesday, July 5th. Zacks Investment Research raised shares of Globant SA from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Wedbush began coverage on shares of Globant SA in a research report on Thursday, September 8th. They issued an “outperform” rating and a $48.00 price objective for the company. Citigroup Inc. lifted their price objective on shares of Globant SA from $41.00 to $48.50 and gave the company a “buy” rating in a research report on Thursday, August 11th. Finally, Pacific Crest reissued a “hold” rating on shares of Globant SA in a research report on Thursday, August 11th.
Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of 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 period. JPMorgan Chase & Co. boosted its stake 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 valued at $51,442,000 after buying an additional 518,466 shares during the period. Prudential Financial Inc. boosted its stake in shares of 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 period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Globant SA during the first quarter valued at $5,863,000. Finally, Global X Management Co. LLC boosted its stake in shares of 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 period. Institutional investors and hedge funds own 61.24% of the company’s stock.
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Globant SA (NYSE:GLOB) traded down 0.09% during mid-day trading on Monday, reaching $43.65. 88,424 shares of the company were exchanged. The company’s 50 day moving average price is $41.24 and its 200-day moving average price is $38.94. Globant SA has a 12-month low of $22.50 and a 12-month high of $44.95. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 45.95 and a beta of 1.19.
Globant SA (NYSE:GLOB) last announced its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The company earned $79.90 million during the quarter, compared to the consensus estimate of $76.81 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Globant SA will post $1.19 earnings per share for the current fiscal year.
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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