Globant SA (NYSE:GLOB)’s share price rose 9% during trading on Monday . The stock traded as high as $53.44 and last traded at $51.39. Approximately 987,900 shares changed hands during mid-day trading, an increase of 272% from the average daily volume of 265,730 shares. The stock had previously closed at $47.14.
GLOB has been the subject of several research reports. SunTrust Banks reissued a “hold” rating on shares of Globant in a research note on Sunday, October 22nd. BidaskClub downgraded shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. KeyCorp reaffirmed a “hold” rating on shares of Globant in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $36.00 price target (down previously from $42.00) on shares of Globant in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $46.20.
The stock has a market cap of $1,803.79, a P/E ratio of 59.07 and a beta of 0.70.
Hedge funds have recently added to or reduced their stakes in the company. Compass Group LLC bought a new position in Globant during the fourth quarter worth $33,466,000. Standard Life Aberdeen plc raised its stake in Globant by 215.9% during the fourth quarter. Standard Life Aberdeen plc now owns 1,012,353 shares of the information technology services provider’s stock worth $47,034,000 after buying an additional 691,866 shares during the last quarter. Riverbridge Partners LLC raised its stake in Globant by 63.5% during the third quarter. Riverbridge Partners LLC now owns 1,625,091 shares of the information technology services provider’s stock worth $65,117,000 after buying an additional 631,089 shares during the last quarter. Gilder Gagnon Howe & Co. LLC bought a new position in Globant during the fourth quarter worth $19,372,000. Finally, Hood River Capital Management LLC bought a new position in Globant during the fourth quarter worth $17,754,000. 64.80% of the stock is owned by hedge funds and other institutional investors.
WARNING: “Globant (GLOB) Stock Price Up 9%” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.com-unik.info/2018/02/19/globant-glob-stock-price-up-9.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.