BidaskClub Lowers Globant S.A. (GLOB) to Hold

Globant S.A. (NYSE:GLOB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Wednesday, October 25th.

Several other research firms have also recently commented on GLOB. Citigroup Inc. lifted their target price on Globant from $42.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 19th. SunTrust Banks, Inc. lowered Globant from a “buy” rating to a “hold” rating and raised their price target for the stock from $43.00 to $48.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “neutral” rating and issued a $42.00 price target (up from $36.00) on shares of Globant in a research report on Friday, August 18th. KeyCorp restated a “hold” rating on shares of Globant in a research report on Thursday, September 28th. Finally, Cowen and Company restated a “buy” rating and issued a $50.00 price target on shares of Globant in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.86.

Globant (NYSE:GLOB) traded down $0.36 during mid-day trading on Wednesday, reaching $35.94. The company’s stock had a trading volume of 151,100 shares, compared to its average volume of 248,204. Globant has a 52 week low of $30.90 and a 52 week high of $47.51. The stock has a market cap of $1,266.87, a P/E ratio of 39.89 and a beta of 0.83.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 17th. The information technology services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.16). Globant had a return on equity of 15.08% and a net margin of 8.61%. The firm had revenue of $99.60 million during the quarter, compared to the consensus estimate of $95.79 million. During the same quarter in the prior year, the business posted $0.29 EPS. Globant’s revenue was up 24.7% compared to the same quarter last year. research analysts anticipate that Globant will post 0.98 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in GLOB. Schwab Charles Investment Management Inc. increased its position in shares of Globant by 0.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock valued at $1,451,000 after acquiring an additional 100 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Globant by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 68,163 shares of the information technology services provider’s stock valued at $2,481,000 after acquiring an additional 605 shares during the last quarter. American International Group Inc. increased its position in shares of Globant by 7.1% in the first quarter. American International Group Inc. now owns 15,829 shares of the information technology services provider’s stock valued at $576,000 after acquiring an additional 1,047 shares during the last quarter. UBS Group AG increased its position in shares of Globant by 11.4% in the first quarter. UBS Group AG now owns 12,786 shares of the information technology services provider’s stock valued at $466,000 after acquiring an additional 1,311 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Globant by 34.5% in the first quarter. Bank of America Corp DE now owns 5,153 shares of the information technology services provider’s stock valued at $188,000 after acquiring an additional 1,321 shares during the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

About Globant

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.

Analyst Recommendations for Globant (NYSE:GLOB)

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