Globant S.A. (NYSE:GLOB) had its price objective raised by stock analysts at Citigroup Inc. from $42.00 to $49.00 in a report issued on Wednesday, July 19th. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Citigroup Inc.’s target price suggests a potential upside of 7.15% from the stock’s previous close.
Several other brokerages have also issued reports on GLOB. Cantor Fitzgerald reissued a “hold” rating and issued a $36.00 target price on shares of Globant in a research report on Friday, May 19th. BidaskClub downgraded Globant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Globant currently has an average rating of “Hold” and an average target price of $44.00.
Globant (NYSE:GLOB) traded up 1.06% during trading on Wednesday, hitting $45.73. The stock had a trading volume of 105,186 shares. The company has a 50-day moving average of $43.21 and a 200 day moving average of $37.87. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 44.40 and a beta of 0.85. Globant has a 52 week low of $30.90 and a 52 week high of $47.51.
Globant (NYSE:GLOB) last announced its earnings results on Thursday, May 18th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. Globant had a return on equity of 18.60% and a net margin of 11.13%. The firm had revenue of $88.74 million during the quarter, compared to analyst estimates of $87.63 million. During the same quarter in the prior year, the company earned $0.24 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that Globant will post $1.27 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverbridge Partners LLC bought a new position in Globant during the second quarter valued at approximately $43,179,000. US Bancorp DE raised its position in Globant by 1,461.5% in the second quarter. US Bancorp DE now owns 6,808 shares of the information technology services provider’s stock valued at $296,000 after buying an additional 6,372 shares in the last quarter. Eqis Capital Management Inc. bought a new position in Globant during the second quarter valued at approximately $205,000. Fisher Asset Management LLC raised its position in shares of Globant by 56.5% in the second quarter. Fisher Asset Management LLC now owns 16,900 shares of the information technology services provider’s stock valued at $734,000 after buying an additional 6,100 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Globant by 1,002.4% in the second quarter. Bank of Montreal Can now owns 2,337 shares of the information technology services provider’s stock valued at $101,000 after buying an additional 2,125 shares during the period. Hedge funds and other institutional investors own 71.23% of the company’s stock.
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.
Receive News & Ratings for Globant S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant S.A. and related companies with MarketBeat.com's FREE daily email newsletter.
