Brokers Issue Forecasts for Globant SA’s Q1 2019 Earnings (GLOB)

Globant SA (NYSE:GLOB) – Analysts at SunTrust Banks issued their Q1 2019 earnings per share estimates for shares of Globant in a research note issued to investors on Tuesday. SunTrust Banks analyst F. Atkins expects that the information technology services provider will post earnings per share of $0.35 for the quarter. SunTrust Banks currently has a “Hold” rating and a $52.00 price target on the stock. SunTrust Banks also issued estimates for Globant’s Q3 2019 earnings at $0.40 EPS and Q4 2019 earnings at $0.44 EPS.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Globant from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 22nd. KeyCorp reissued a “hold” rating on shares of Globant in a research note on Friday, November 3rd. BidaskClub cut Globant from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $36.00 target price (down from $42.00) on shares of Globant in a research note on Friday, November 17th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $54.00 target price (up from $50.00) on shares of Globant in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.57.

Globant (GLOB) traded up $0.72 during trading hours on Friday, reaching $52.22. The company’s stock had a trading volume of 301,499 shares, compared to its average volume of 308,791. Globant has a 1 year low of $33.56 and a 1 year high of $53.47. The firm has a market capitalization of $1,807.65, a PE ratio of 60.02 and a beta of 0.70.

Several hedge funds have recently bought and sold shares of GLOB. PNC Financial Services Group Inc. acquired a new position in shares of Globant during the second quarter worth about $188,000. FMR LLC boosted its position in shares of Globant by 14.1% during the second quarter. FMR LLC now owns 349,503 shares of the information technology services provider’s stock worth $15,182,000 after buying an additional 43,197 shares during the period. Stifel Financial Corp acquired a new position in shares of Globant during the second quarter worth about $644,000. Fisher Asset Management LLC boosted its position in shares of Globant by 12.5% during the third quarter. Fisher Asset Management LLC now owns 19,016 shares of the information technology services provider’s stock worth $762,000 after buying an additional 2,116 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Globant during the third quarter worth about $1,795,000. 64.80% 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.

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