Brokerages Set Globant SA (GLOB) Target Price at $57.17

Globant SA (NYSE:GLOB) has received a consensus rating of “Buy” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $57.17.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. JPMorgan Chase & Co. cut their target price on shares of Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, October 24th. SunTrust Banks raised their target price on shares of Globant to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Finally, Citigroup raised their target price on shares of Globant from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 24th.

Several hedge funds have recently bought and sold shares of the stock. Sloane Robinson LLP grew its holdings in shares of Globant by 17.0% in the third quarter. Sloane Robinson LLP now owns 162,200 shares of the information technology services provider’s stock valued at $9,568,000 after purchasing an additional 23,600 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Globant in the third quarter valued at $267,000. American Century Companies Inc. grew its holdings in shares of Globant by 105.7% in the third quarter. American Century Companies Inc. now owns 324,118 shares of the information technology services provider’s stock valued at $19,120,000 after purchasing an additional 166,563 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Globant by 10.5% in the third quarter. Wells Fargo & Company MN now owns 1,069,992 shares of the information technology services provider’s stock valued at $63,119,000 after purchasing an additional 101,451 shares in the last quarter. Finally, Comerica Bank purchased a new position in shares of Globant in the third quarter valued at $1,068,000. 76.53% of the stock is owned by hedge funds and other institutional investors.

GLOB traded up $0.09 during trading on Friday, reaching $53.42. 237,131 shares of the company traded hands, compared to its average volume of 222,472. Globant has a 12-month low of $34.82 and a 12-month high of $66.41. The firm has a market cap of $1.92 billion, a P/E ratio of 60.70 and a beta of 0.83.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 23rd. The information technology services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. Globant had a net margin of 9.48% and a return on equity of 15.07%. The business had revenue of $127.90 million during the quarter, compared to analyst estimates of $125.18 million. During the same period last year, the firm posted $0.27 EPS. The company’s revenue was up 28.4% on a year-over-year basis. As a group, equities research analysts expect that Globant will post 1.44 EPS for the current year.

Globant Company Profile

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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Analyst Recommendations for Globant (NYSE:GLOB)

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