Globant (NYSE:GLOB) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Globant (NYSE:GLOB) from a buy rating to a strong-buy rating in a report released on Monday, February 4th.

GLOB has been the topic of several other reports. Zacks Investment Research raised shares of Globant from a hold rating to a buy rating and set a $61.00 target price on the stock in a report on Monday, December 24th. Goldman Sachs Group assumed coverage on shares of Globant in a report on Monday, November 19th. They issued a buy rating and a $65.00 target price on the stock. Cantor Fitzgerald reissued a hold rating and issued a $57.00 target price on shares of Globant in a report on Friday, November 30th. SunTrust Banks raised their target price on shares of Globant to $75.00 and gave the company a buy rating in a report on Tuesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Globant from $69.00 to $64.00 and set an overweight rating on the stock in a report on Wednesday, October 24th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $64.75.

GLOB stock traded up $1.69 during mid-day trading on Monday, hitting $70.58. The stock had a trading volume of 196,003 shares, compared to its average volume of 228,805. Globant has a 52 week low of $43.29 and a 52 week high of $74.00. The firm has a market cap of $2.58 billion, a P/E ratio of 50.78 and a beta of 0.96.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 14th. The information technology services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Globant had a net margin of 9.89% and a return on equity of 16.40%. The firm had revenue of $140.14 million for the quarter, compared to analyst estimates of $139.32 million. During the same period last year, the firm earned $0.39 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, equities research analysts forecast that Globant will post 1.72 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in GLOB. Wasatch Advisors Inc. grew its holdings in shares of Globant by 36.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 1,758,045 shares of the information technology services provider’s stock valued at $103,707,000 after purchasing an additional 474,011 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Globant by 151.7% during the 4th quarter. Mackenzie Financial Corp now owns 623,994 shares of the information technology services provider’s stock valued at $35,143,000 after purchasing an additional 376,047 shares during the last quarter. Morgan Stanley grew its holdings in shares of Globant by 8.0% during the 3rd quarter. Morgan Stanley now owns 3,916,084 shares of the information technology services provider’s stock valued at $231,010,000 after purchasing an additional 289,250 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Globant by 81.7% during the 4th quarter. Bank of New York Mellon Corp now owns 575,405 shares of the information technology services provider’s stock valued at $32,407,000 after purchasing an additional 258,748 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Globant by 177.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 392,151 shares of the information technology services provider’s stock valued at $23,133,000 after purchasing an additional 250,605 shares during the last quarter. 78.62% of the stock is currently owned by 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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