Globant SA (NYSE:GLOB) has been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $73.14.
A number of equities analysts recently weighed in on GLOB shares. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Tuesday, April 16th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $67.00 target price on shares of Globant in a research note on Friday, February 15th. Wedbush upped their target price on shares of Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 13th. Itau BBA Securities lowered shares of Globant from an “outperform” rating to a “market perform” rating in a research note on Friday, February 15th. Finally, Morgan Stanley started coverage on shares of Globant in a research report on Wednesday, April 10th. They set an “overweight” rating and a $85.00 price target on the stock.
Large investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in shares of Globant by 151.7% during the fourth quarter. Mackenzie Financial Corp now owns 623,994 shares of the information technology services provider’s stock valued at $35,143,000 after purchasing an additional 376,047 shares in the last quarter. Norges Bank purchased a new position in Globant during the fourth quarter valued at approximately $15,761,000. Bank of New York Mellon Corp grew its stake in Globant by 81.7% during the fourth quarter. Bank of New York Mellon Corp now owns 575,405 shares of the information technology services provider’s stock valued at $32,407,000 after acquiring an additional 258,748 shares in the last quarter. William Blair Investment Management LLC grew its stake in Globant by 11.9% during the first quarter. William Blair Investment Management LLC now owns 1,004,844 shares of the information technology services provider’s stock valued at $71,746,000 after acquiring an additional 107,099 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Globant by 27.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 498,392 shares of the information technology services provider’s stock worth $28,070,000 after buying an additional 106,241 shares in the last quarter. Institutional investors and hedge funds own 79.07% of the company’s stock.
Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Globant had a net margin of 9.77% and a return on equity of 16.35%. The company had revenue of $146.15 million during the quarter, compared to analyst estimates of $145.23 million. During the same quarter in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. Equities analysts expect that Globant will post 1.72 EPS for the current fiscal year.
Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.
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