Globant S.A. (NYSE:GLOB) Receives Average Recommendation of “Hold” from Brokerages
Shares of Globant S.A. (NYSE:GLOB) have been given a consensus recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $42.42.
Several research analysts have commented on the stock. Cantor Fitzgerald restated a “hold” rating and issued a $36.00 price objective on shares of Globant in a report on Friday, May 19th. TheStreet upgraded shares of Globant from a “c” rating to a “b-” rating in a research note on Friday, March 17th.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Globant 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. State Board of Administration of Florida Retirement System increased its stake in shares of Globant 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 during the last quarter. Paloma Partners Management Co bought a new stake in shares of Globant during the first quarter worth about $277,000. Keybank National Association OH bought a new stake in shares of Globant during the first quarter worth about $318,000. Finally, Fisher Asset Management LLC increased its stake in shares of Globant 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 during the last quarter. Institutional investors and hedge funds own 71.19% of the company’s stock.
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Globant (GLOB) traded down 1.35% during mid-day trading on Monday, hitting $40.30. 258,705 shares of the company were exchanged. The company’s 50-day moving average is $40.80 and its 200 day moving average is $36.38. The company has a market capitalization of $1.40 billion, a P/E ratio of 39.13 and a beta of 0.85. Globant has a 12-month low of $30.90 and a 12-month high of $47.19.
Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, May 18th. The information technology services provider reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Globant had a net margin of 11.13% and a return on equity of 18.60%. The business had revenue of $88.74 million during the quarter, compared to analyst estimates of $87.63 million. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts expect that Globant will post $1.27 EPS for the current year.
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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