Analysts Set Globant SA (NYSE:GLOB) PT at $89.56

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Shares of Globant SA (NYSE:GLOB) have been given a consensus rating of “Buy” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $89.56.

A number of brokerages have recently issued reports on GLOB. Citigroup lowered shares of Globant from a “buy” rating to a “neutral” rating and upped their target price for the company from $93.00 to $115.00 in a research note on Wednesday, July 17th. Cowen set a $116.00 target price on shares of Globant and gave the company a “buy” rating in a research note on Friday, August 16th. William Blair restated a “buy” rating on shares of Globant in a research note on Friday, August 16th. Zacks Investment Research lowered shares of Globant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, HSBC lowered shares of Globant from a “hold” rating to a “reduce” rating and upped their target price for the company from $52.00 to $80.00 in a research note on Tuesday, September 10th.

GLOB stock traded up $0.32 during trading on Thursday, reaching $99.11. The stock had a trading volume of 174,432 shares, compared to its average volume of 287,905. Globant has a 1-year low of $48.95 and a 1-year high of $112.33. The company has a market capitalization of $3.49 billion, a P/E ratio of 71.30 and a beta of 0.93. The firm has a fifty day moving average price of $94.13 and a 200 day moving average price of $95.52.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 EPS. On average, research analysts expect that Globant will post 1.77 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. FTB Advisors Inc. raised its stake in Globant by 42.4% during the second quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 111 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Globant during the third quarter worth about $55,000. NEXT Financial Group Inc raised its stake in Globant by 15.3% during the third quarter. NEXT Financial Group Inc now owns 1,569 shares of the information technology services provider’s stock worth $144,000 after acquiring an additional 208 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in Globant during the second quarter worth about $152,000. Finally, Winslow Evans & Crocker Inc. raised its stake in Globant by 1,182.4% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock worth $192,000 after acquiring an additional 1,750 shares during the period. Institutional investors and hedge funds own 82.87% of the company’s stock.

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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