Globant SA (GLOB) Receives Average Rating of “Hold” from Analysts
Globant SA (NYSE:GLOB) has earned an average rating of “Hold” from the eight research firms that are presently covering the firm. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $42.42.
GLOB has been the topic of a number of recent analyst reports. TheStreet raised shares of Globant SA from a “c” rating to a “b-” rating in a research note on Friday, March 17th. Cantor Fitzgerald cut their price target on shares of Globant SA from $43.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, February 17th.
Globant SA (NYSE:GLOB) traded up 4.37% during trading on Friday, hitting $38.90. 1,001,166 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $36.05 and its 200 day moving average price is $35.75. Globant SA has a 12-month low of $30.90 and a 12-month high of $47.19. The stock has a market cap of $1.35 billion, a P/E ratio of 37.77 and a beta of 0.82.
Globant SA (NYSE:GLOB) last posted its quarterly earnings results on Thursday, May 18th. The information technology services provider reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. The company had revenue of $88.74 million for the quarter, compared to the consensus estimate of $87.63 million. Globant SA had a net margin of 11.32% and a return on equity of 19.58%. Globant SA’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Analysts anticipate that Globant SA will post $1.35 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of Globant SA by 34.5% in the first quarter. Bank of America Corp DE now owns 5,153 shares of the information technology services provider’s stock worth $188,000 after buying an additional 1,321 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Globant SA during the first quarter worth approximately $277,000. State Board of Administration of Florida Retirement System increased its position in shares of Globant SA by 1.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 8,064 shares of the information technology services provider’s stock worth $269,000 after buying an additional 120 shares in the last quarter. Keybank National Association OH acquired a new position in shares of Globant SA during the first quarter worth approximately $318,000. Finally, Fisher Asset Management LLC increased its position in shares of Globant SA by 9.1% in the first quarter. Fisher Asset Management LLC now owns 10,800 shares of the information technology services provider’s stock worth $393,000 after buying an additional 900 shares in the last quarter. 63.04% of the stock is currently owned by institutional investors and hedge funds.
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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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