Globant SA (GLOB) Given Average Rating of “Buy” by Analysts

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Globant SA (NYSE:GLOB) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $73.14.

GLOB has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Globant in a research report on Friday, February 15th. Itau BBA Securities cut Globant from an “outperform” rating to a “market perform” rating in a research report on Friday, February 15th. ValuEngine raised Globant from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. SunTrust Banks upped their price objective on Globant to $75.00 and gave the company a “buy” rating in a research report on Tuesday, January 29th. Finally, Wedbush upped their price objective on Globant from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, February 13th.

Shares of Globant stock traded up $2.99 during midday trading on Thursday, hitting $87.61. The company had a trading volume of 4,885 shares, compared to its average volume of 225,538. The company has a quick ratio of 2.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.04 billion, a P/E ratio of 62.71 and a beta of 1.00. Globant has a 52-week low of $46.30 and a 52-week high of $86.97.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $146.15 million for the quarter, compared to the consensus estimate of $145.23 million. Globant had a return on equity of 16.35% and a net margin of 9.77%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, equities analysts expect that Globant will post 1.72 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of Globant by 0.9% during the 1st quarter. US Bancorp DE now owns 15,817 shares of the information technology services provider’s stock valued at $1,130,000 after buying an additional 137 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Globant by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 54,008 shares of the information technology services provider’s stock worth $3,856,000 after purchasing an additional 223 shares in the last quarter. American Capital Management Inc. increased its stake in shares of Globant by 6.7% in the 4th quarter. American Capital Management Inc. now owns 5,571 shares of the information technology services provider’s stock worth $314,000 after purchasing an additional 350 shares in the last quarter. Bollard Group LLC purchased a new stake in shares of Globant in the 1st quarter worth $29,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Globant by 159.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 679 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 417 shares in the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Globant (NYSE:GLOB)

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