Globant (NYSE:GLOB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, January 19th.
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 equities analysts have also recently commented on GLOB. Wedbush reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Globant in a report on Saturday, October 14th. Cowen reissued a “buy” rating and issued a $50.00 target price on shares of Globant in a report on Thursday, October 12th. BidaskClub raised Globant from a “hold” rating to a “buy” rating in a report on Thursday, October 5th. SunTrust Banks reaffirmed a “hold” rating on shares of Globant in a report on Sunday, October 22nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Globant in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.20.
Shares of Globant (NYSE:GLOB) traded up $0.88 during midday trading on Friday, reaching $46.38. The company’s stock had a trading volume of 579,035 shares, compared to its average volume of 241,111. Globant has a 1 year low of $33.00 and a 1 year high of $48.57. The stock has a market capitalization of $1,610.00, a P/E ratio of 58.68 and a beta of 0.69.
Globant (NYSE:GLOB) last issued its earnings results on Thursday, November 16th. The information technology services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.09). The firm had revenue of $109.68 million during the quarter, compared to analysts’ expectations of $104.15 million. Globant had a net margin of 7.60% and a return on equity of 13.55%. sell-side analysts forecast that Globant will post 0.83 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Citigroup Inc. boosted its position in shares of Globant by 146.7% in the 2nd 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. Grandeur Peak Global Advisors LLC raised its stake in Globant by 0.8% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock worth $22,633,000 after buying an additional 3,975 shares during the period. Bank of New York Mellon Corp raised its stake in Globant by 46.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,977 shares of the information technology services provider’s stock worth $400,000 after buying an additional 3,152 shares during the period. FDx Advisors Inc. acquired a new stake in Globant during the 3rd quarter worth $335,000. Finally, BARING ASSET MANAGEMENT Ltd acquired a new stake in Globant during the 3rd quarter worth $496,000. Institutional investors and hedge funds own 64.70% of the company’s stock.
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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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