Shares of Globant SA (NYSE:GLOB) have been assigned an average recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $44.20.

A number of brokerages recently commented on GLOB. Wedbush reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Globant in a research report on Saturday, October 14th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $42.00 price objective (up from $36.00) on shares of Globant in a research report on Friday, August 18th. Cowen reaffirmed a “buy” rating and set a $50.00 price objective on shares of Globant in a research report on Thursday, October 12th. BidaskClub raised shares of Globant from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Finally, SunTrust Banks reaffirmed a “hold” rating on shares of Globant in a research report on Sunday, October 22nd.

Shares of Globant (GLOB) traded up $0.40 on Thursday, reaching $39.07. 146,500 shares of the company were exchanged, compared to its average volume of 252,943. Globant has a 52-week low of $30.90 and a 52-week high of $47.51. The stock has a market capitalization of $1,370.00, a P/E ratio of 44.97 and a beta of 0.83.

A number of hedge funds have recently bought and sold shares of GLOB. Teachers Advisors LLC grew its position in Globant by 6.2% in the first quarter. Teachers Advisors LLC now owns 43,970 shares of the information technology services provider’s stock worth $1,601,000 after acquiring an additional 2,578 shares in the last quarter. Geode Capital Management LLC grew its position in Globant by 13.7% in the first quarter. Geode Capital Management LLC now owns 42,388 shares of the information technology services provider’s stock worth $1,542,000 after acquiring an additional 5,118 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Globant by 0.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock worth $1,451,000 after acquiring an additional 100 shares in the last quarter. Bank of America Corp DE grew its position 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 acquiring an additional 1,321 shares in the last quarter. Finally, State Street Corp grew its position in Globant by 2.8% in the first quarter. State Street Corp now owns 431,064 shares of the information technology services provider’s stock worth $15,688,000 after acquiring an additional 11,560 shares in the last quarter. 65.26% of the stock is owned by institutional investors.

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Globant 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.

Analyst Recommendations for Globant (NYSE:GLOB)

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