Globant SA (NYSE:GLOB) Receives $89.56 Consensus Target Price from Brokerages

Shares of Globant SA (NYSE:GLOB) have been given an average rating of “Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $89.56.

GLOB has been the topic of a number of analyst reports. HSBC cut Globant from a “hold” rating to a “reduce” rating and raised their price target for the company from $52.00 to $80.00 in a research note on Tuesday, September 10th. Zacks Investment Research cut Globant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Citigroup cut Globant from a “buy” rating to a “neutral” rating and raised their price target for the company from $93.00 to $115.00 in a research note on Wednesday, July 17th. ValuEngine cut Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Cowen set a $116.00 price target on Globant and gave the company a “buy” rating in a research note on Friday, August 16th.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors Inc. boosted its holdings in Globant by 15.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,183,891 shares of the information technology services provider’s stock valued at $220,682,000 after purchasing an additional 289,133 shares in the last quarter. BlackRock Inc. boosted its holdings in Globant by 393.3% in the 2nd quarter. BlackRock Inc. now owns 1,721,511 shares of the information technology services provider’s stock valued at $173,959,000 after purchasing an additional 1,372,522 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Globant by 32.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,331,175 shares of the information technology services provider’s stock valued at $134,515,000 after purchasing an additional 326,331 shares in the last quarter. Invesco Ltd. boosted its holdings in Globant by 671.3% in the 2nd quarter. Invesco Ltd. now owns 843,989 shares of the information technology services provider’s stock valued at $85,285,000 after purchasing an additional 734,563 shares in the last quarter. Finally, AXA boosted its holdings in Globant by 15.0% in the 2nd quarter. AXA now owns 313,750 shares of the information technology services provider’s stock valued at $31,704,000 after purchasing an additional 41,010 shares in the last quarter. 82.87% of the stock is currently owned by institutional investors.

NYSE:GLOB traded up $0.32 during trading hours on Thursday, reaching $99.11. 174,432 shares of the stock were exchanged, compared to its average volume of 287,905. The business has a 50-day moving average of $94.13 and a two-hundred day moving average of $95.52. Globant has a twelve month low of $48.95 and a twelve month high of $112.33. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 71.30 and a beta of 0.93.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). The company had revenue of $157.50 million during the quarter, compared to analyst estimates of $157.50 million. Globant had a net margin of 9.09% and a return on equity of 16.39%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. As a group, analysts forecast that Globant will post 1.77 earnings per share for the current fiscal year.

About Globant

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.

Recommended Story: Are analyst ratings accurate?

Analyst Recommendations for Globant (NYSE:GLOB)

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit