Globant (NYSE:GLOB) Upgraded by Itau BBA Securities to Outperform
Itau BBA Securities upgraded shares of Globant (NYSE:GLOB) from a market perform rating to an outperform rating in a research report released on Friday, The Fly reports. They currently have $113.00 price target on the information technology services provider’s stock, up from their prior price target of $74.00.
A number of other brokerages have also issued reports on GLOB. Wedbush reissued an outperform rating and set a $90.00 target price (up from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Globant from a hold rating to a buy rating and set a $90.00 target price for the company in a research note on Tuesday, April 16th. Finally, Morgan Stanley began coverage on shares of Globant in a research note on Wednesday, April 10th. They set an overweight rating and a $85.00 target price for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Globant presently has a consensus rating of Buy and an average target price of $79.33.
Shares of GLOB opened at $101.70 on Friday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 73.17 and a beta of 0.84. Globant has a 12-month low of $46.30 and a 12-month high of $105.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 2.29. The company’s fifty day moving average is $91.60.
Several hedge funds have recently added to or reduced their stakes in GLOB. Claybrook Capital LLC bought a new stake in shares of Globant in the fourth quarter valued at about $26,000. Daiwa Securities Group Inc. bought a new stake in shares of Globant in the fourth quarter valued at about $28,000. Bollard Group LLC bought a new stake in shares of Globant in the first quarter valued at about $29,000. Icon Wealth Partners LLC bought a new stake in shares of Globant in the first quarter valued at about $42,000. Finally, Cutler Group LP bought a new position in Globant in the first quarter worth about $128,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.
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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