Globant S.A. (GLOB) Upgraded by Pacific Crest to “Overweight”
Several other brokerages have also weighed in on GLOB. Zacks Investment Research raised Globant from a sell rating to a hold rating in a research report on Wednesday, September 14th. TheStreet lowered Globant from a buy rating to a hold rating in a research report on Wednesday, December 21st. Finally, Jefferies Group dropped their target price on Globant from $40.00 to $39.00 and set a hold rating on the stock in a research report on Wednesday, November 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Globant currently has an average rating of Hold and a consensus target price of $39.93.
Globant (NYSE:GLOB) traded up 4.83% during midday trading on Thursday, hitting $34.51. 456,149 shares of the company traded hands. The stock has a 50 day moving average of $33.19 and a 200 day moving average of $39.51. Globant has a 12-month low of $22.50 and a 12-month high of $47.19. The stock has a market cap of $1.19 billion, a P/E ratio of 35.21 and a beta of 0.84.
Globant (NYSE:GLOB) last issued its earnings results on Monday, November 14th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Globant had a return on equity of 19.58% and a net margin of 11.32%. The company earned $82.40 million during the quarter, compared to analyst estimates of $81.95 million. During the same period in the prior year, the business earned $0.26 earnings per share. Globant’s quarterly revenue was up 22.8% on a year-over-year basis. Equities research analysts predict that Globant will post $1.14 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Globant by 38.2% in the second quarter. BlackRock Inc. now owns 61,676 shares of the company’s stock worth $2,427,000 after buying an additional 17,052 shares during the last quarter. BlackRock Investment Management LLC raised its position in Globant by 75.4% in the second quarter. BlackRock Investment Management LLC now owns 95,740 shares of the company’s stock worth $3,767,000 after buying an additional 41,165 shares during the last quarter. BlackRock Advisors LLC raised its position in Globant by 114.7% in the second quarter. BlackRock Advisors LLC now owns 137,615 shares of the company’s stock worth $5,415,000 after buying an additional 73,522 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Globant during the second quarter worth about $108,000. Finally, Prudential Financial Inc. raised its position in Globant by 46.9% in the second quarter. Prudential Financial Inc. now owns 148,250 shares of the company’s stock worth $5,834,000 after buying an additional 47,300 shares during the last quarter. 62.88% of the stock is currently owned by hedge funds and other institutional investors.
Globant 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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