Globant S.A. (GLOB) Stock Rating Lowered by BidaskClub

Globant S.A. (NYSE:GLOB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, November 1st.

A number of other research firms also recently commented on GLOB. KeyCorp reiterated a “hold” rating on shares of Globant in a research note on Thursday, September 28th. SunTrust Banks, Inc. reiterated a “hold” rating on shares of Globant in a research note on Sunday, October 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $42.00 price target (up from $36.00) on shares of Globant in a research note on Friday, August 18th. Wedbush reissued an “outperform” rating and issued a $48.00 target price on shares of Globant in a report on Saturday, October 14th. Finally, Cowen and Company reissued a “buy” rating and issued a $50.00 target price on shares of Globant in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $44.86.

Globant (GLOB) traded down $0.36 during trading hours on Wednesday, reaching $35.94. The company had a trading volume of 151,100 shares, compared to its average volume of 248,204. The firm has a market capitalization of $1,266.87, a P/E ratio of 39.89 and a beta of 0.83. Globant has a fifty-two week low of $30.90 and a fifty-two week high of $47.51.

Globant (NYSE:GLOB) last posted its quarterly earnings results 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). The firm had revenue of $99.60 million during the quarter, compared to analyst estimates of $95.79 million. Globant had a return on equity of 15.08% and a net margin of 8.61%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. analysts predict that Globant will post 0.98 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of GLOB. Bank of Montreal Can raised its holdings in shares of Globant by 1,002.4% during 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 last quarter. Advisor Group Inc. bought a new stake in shares of Globant during the third quarter valued at approximately $141,000. D.A. Davidson & CO. raised its holdings in shares of Globant by 175.3% during the second quarter. D.A. Davidson & CO. now owns 4,275 shares of the information technology services provider’s stock valued at $185,000 after buying an additional 2,722 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Globant by 34.5% during 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 buying an additional 1,321 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Globant during the second quarter valued at approximately $188,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Globant (NYSE:GLOB)

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