Investment analysts at HSBC began coverage on shares of Globant (NYSE:GLOB) in a report issued on Friday, The Fly reports. The firm set a “hold” rating on the information technology services provider’s stock.
GLOB has been the topic of several other research reports. SunTrust Banks lifted their target price on shares of Globant to $52.00 and gave the stock a “hold” rating in a research note on Wednesday, February 21st. They noted that the move was a valuation call. JPMorgan Chase reissued an “overweight” rating and set a $54.00 price target (up previously from $50.00) on shares of Globant in a research report on Tuesday, February 20th. Zacks Investment Research raised shares of Globant from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, ValuEngine raised shares of Globant from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Globant has a consensus rating of “Hold” and a consensus price target of $49.57.
Shares of GLOB opened at $44.88 on Friday. Globant has a 52-week low of $33.87 and a 52-week high of $54.84. The firm has a market cap of $1,571.78, a price-to-earnings ratio of 51.00 and a beta of 0.54.
Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. Globant had a net margin of 7.55% and a return on equity of 13.02%. The company had revenue of $115.43 million for the quarter, compared to analysts’ expectations of $109.25 million. sell-side analysts forecast that Globant will post 1.22 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Globant during the 4th quarter valued at about $172,000. California Public Employees Retirement System acquired a new position in Globant in the fourth quarter valued at about $287,000. Bank of New York Mellon Corp lifted its position in Globant by 46.2% in the third quarter. Bank of New York Mellon Corp now owns 9,977 shares of the information technology services provider’s stock valued at $400,000 after buying an additional 3,152 shares during the last quarter. American Capital Management Inc. lifted its position in Globant by 76.9% in the fourth quarter. American Capital Management Inc. now owns 11,480 shares of the information technology services provider’s stock valued at $533,000 after buying an additional 4,990 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Globant by 137.9% in the third quarter. Wells Fargo & Company MN now owns 14,079 shares of the information technology services provider’s stock valued at $564,000 after buying an additional 8,161 shares during the last quarter. 68.37% of the stock is currently owned by hedge funds and other institutional investors.
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Globant Company Profile
Globant SA develops and provides software solutions to clients in North America, the Latin America, Europe, and Asia. It offers API management, e-commerce, and digital solutions; graphics engineering, game engineering, gaming experience, VR/AR development, and digital platform services; Big Data services, such as data integration, data architecture, scalable platform, blockchain, data visualization, and data science; testing center, test automation, mobile testing, and load and performance testing services.
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