Globant (NYSE:GLOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday.
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. “
Several other research firms have also commented on GLOB. Wedbush reiterated an “outperform” rating and issued a $48.00 price target on shares of Globant in a research report on Saturday, October 14th. Cowen reiterated a “buy” rating and issued a $50.00 price target on shares of Globant in a research report on Thursday, October 12th. BidaskClub upgraded Globant from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. SunTrust Banks reiterated a “hold” rating on shares of Globant in a research report on Sunday, October 22nd. Finally, KeyCorp reiterated a “hold” rating on shares of Globant in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Globant has a consensus rating of “Hold” and an average target price of $46.20.
Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 16th. The information technology services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.09). Globant had a return on equity of 13.55% and a net margin of 7.60%. equities research analysts expect that Globant will post 0.83 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in GLOB. Nationwide Fund Advisors lifted its stake in Globant by 82.8% in the second quarter. Nationwide Fund Advisors now owns 27,390 shares of the information technology services provider’s stock worth $1,190,000 after purchasing an additional 12,403 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Globant in the second quarter worth about $188,000. Citigroup Inc. lifted its stake in Globant by 146.7% in the second quarter. Citigroup Inc. now owns 5,353 shares of the information technology services provider’s stock worth $233,000 after purchasing an additional 3,183 shares during the last quarter. D.A. Davidson & CO. lifted its stake in Globant by 175.3% in the second quarter. D.A. Davidson & CO. now owns 4,275 shares of the information technology services provider’s stock worth $185,000 after purchasing an additional 2,722 shares during the last quarter. Finally, FMR LLC lifted its stake in Globant by 14.1% in the second quarter. FMR LLC now owns 349,503 shares of the information technology services provider’s stock worth $15,182,000 after purchasing an additional 43,197 shares during the last quarter. 64.70% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was posted by American Banking News and is owned by of American Banking News. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/01/21/globant-glob-upgraded-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.