Globant SA (NYSE:GLOB) Given Average Recommendation of “Buy” by Analysts

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Shares of Globant SA (NYSE:GLOB) have earned an average recommendation of “Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $94.11.

Several brokerages have weighed in on GLOB. Cowen set a $116.00 target price on Globant and gave the stock a “buy” rating in a research report on Friday, August 16th. William Blair reissued a “buy” rating on shares of Globant in a report on Friday, August 16th. Zacks Investment Research raised Globant from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Tuesday, November 19th. HSBC lowered 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 report on Tuesday, September 10th. Finally, ValuEngine lowered Globant from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

Large investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. boosted its position in Globant by 42.4% during the 2nd 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 3rd quarter worth about $55,000. NEXT Financial Group Inc boosted its position in Globant by 15.3% during the 3rd 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. Barclays PLC boosted its position in Globant by 142.1% during the 3rd quarter. Barclays PLC now owns 1,656 shares of the information technology services provider’s stock worth $151,000 after acquiring an additional 972 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Globant during the 2nd quarter worth about $152,000. 80.37% of the stock is currently owned by hedge funds and other institutional investors.

GLOB traded down $2.26 on Monday, reaching $104.74. 26,202 shares of the company’s stock were exchanged, compared to its average volume of 328,778. The company’s 50 day moving average is $97.85 and its 200-day moving average is $97.48. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 75.60 and a beta of 0.95. Globant has a twelve month low of $50.91 and a twelve month high of $112.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.65 and a current ratio of 1.65.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, November 14th. The information technology services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.13. The firm had revenue of $171.33 million during the quarter, compared to the consensus estimate of $171.32 million. Globant had a net margin of 8.46% and a return on equity of 16.76%. The company’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. Sell-side analysts forecast that Globant will post 1.78 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.

See Also: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Globant (NYSE:GLOB)

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