Globant SA (GLOB) Upgraded at Zacks Investment Research
According to Zacks, “Globant S.A. is a technology services provider. The Company provides engineering, design, and innovation services for clients. Globant offers content management systems; and e-commerce applications. It is also involved in the provision of data management solutions; and quality assurance engagement strategy, mobile testing, test automation, load and performance testing, and game testing services. It provides various software solutions primarily in North America, Europe, Latin America, and internationally. Globant S.A. is based in Luxembourg. “
GLOB has been the topic of a number of other reports. JPMorgan Chase & Co. upped their target price on shares of Globant SA from $43.00 to $45.00 and gave the stock an overweight rating in a research report on Thursday, August 11th. Cantor Fitzgerald reiterated a hold rating and set a $43.00 target price on shares of Globant SA in a research report on Monday, August 8th. Pacific Crest reiterated a hold rating on shares of Globant SA in a research report on Thursday, August 11th. Jefferies Group reiterated a hold rating and set a $37.00 target price on shares of Globant SA in a research report on Thursday, August 11th. Finally, Citigroup Inc. increased their price objective on shares of Globant SA from $41.00 to $48.50 and gave the company a buy rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Globant SA presently has an average rating of Buy and an average target price of $40.14.
Globant SA (NYSE:GLOB) opened at 43.50 on Tuesday. Globant SA has a 52-week low of $22.50 and a 52-week high of $44.95. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 45.79 and a beta of 1.20. The firm has a 50-day moving average of $41.11 and a 200 day moving average of $38.84.
Globant SA (NYSE:GLOB) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.81 million. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that Globant SA will post $1.19 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new stake in Globant SA during the second quarter valued at $108,000. KCG Holdings Inc. bought a new stake in shares of Globant SA during the second quarter valued at about $230,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Globant SA during the second quarter valued at about $236,000. Eqis Capital Management Inc. bought a new stake in shares of Globant SA during the third quarter valued at about $275,000. Finally, Fisher Asset Management LLC increased its stake in shares of Globant SA by 11.4% in the second quarter. Fisher Asset Management LLC now owns 7,100 shares of the company’s stock valued at $285,000 after buying an additional 726 shares in the last quarter. Institutional investors own 61.24% of the company’s stock.
Globant SA Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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