Shares of Globant S.A. (NYSE:GLOB) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $44.00.

A number of analysts have recently commented on the company. SunTrust Banks, Inc. cut Globant from a “buy” rating to a “hold” rating and boosted their price target for the stock from $43.00 to $48.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Cantor Fitzgerald reissued a “neutral” rating and issued a $42.00 price target (up from $36.00) on shares of Globant in a research report on Friday, August 18th. Citigroup Inc. boosted their price target on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, BidaskClub cut Globant from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th.

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Shares of Globant (GLOB) traded up 0.05% during mid-day trading on Tuesday, hitting $38.91. The stock had a trading volume of 61,729 shares. The stock’s 50-day moving average price is $42.66 and its 200-day moving average price is $39.21. The firm has a market cap of $1.36 billion, a PE ratio of 46.94 and a beta of 0.85. Globant has a 52-week low of $30.90 and a 52-week high of $47.51.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.16. Globant had a return on equity of 15.08% and a net margin of 8.61%. The company had revenue of $99.60 million during the quarter, compared to the consensus estimate of $95.79 million. During the same period in the prior year, the firm earned $0.29 earnings per share. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, analysts anticipate that Globant will post $1.25 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in GLOB. Wasatch Advisors Inc. boosted its position in Globant by 6.6% in the second quarter. Wasatch Advisors Inc. now owns 1,531,564 shares of the information technology services provider’s stock valued at $66,531,000 after buying an additional 94,412 shares during the period. Koch Industries Inc. acquired a new position in Globant during the second quarter valued at about $376,000. Grandeur Peak Global Advisors LLC boosted its position in Globant by 0.8% in the second quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock valued at $22,633,000 after buying an additional 3,975 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Globant during the second quarter valued at about $466,000. Finally, Janus Henderson Group PLC acquired a new position in Globant during the second quarter valued at about $9,359,000. 66.49% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Globant (NYSE:GLOB)

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