According to Zacks, “Globant S.A. is a technology services provider. The Company provides engineering, design, and innovation services for clients. Globant offers content management systems; and e-commerce applications. It is also involved in the provision of data management solutions; and quality assurance engagement strategy, mobile testing, test automation, load and performance testing, and game testing services. It provides various software solutions primarily in North America, Europe, Latin America, and internationally. Globant S.A. is based in Luxembourg. “
Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Globant SA from $43.00 to $45.00 and gave the stock an overweight rating in a research report on Thursday, August 11th. Pacific Crest reaffirmed a hold rating on shares of Globant SA in a research report on Thursday, August 11th. Jefferies Group reissued a hold rating and set a $37.00 price target on shares of Globant SA in a research report on Thursday, August 11th. Cantor Fitzgerald reissued a hold rating and set a $35.00 price target on shares of Globant SA in a research report on Tuesday, July 5th. Finally, Citigroup Inc. lifted their price target on shares of Globant SA from $41.00 to $48.50 and gave the company a buy rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $38.14.
Globant SA (NYSE:GLOB) opened at 43.92 on Tuesday. The company has a 50-day moving average of $40.92 and a 200-day moving average of $38.77. The company has a market capitalization of $1.51 billion, a PE ratio of 46.23 and a beta of 1.20. Globant SA has a 52 week low of $22.50 and a 52 week high of $44.95.
Globant SA (NYSE:GLOB) last posted its earnings results on Wednesday, August 10th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The firm earned $79.90 million during the quarter, compared to analysts’ expectations of $76.81 million. During the same period last year, the company posted $0.25 EPS. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities research analysts anticipate that Globant SA will post $1.19 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its position in shares of Globant SA by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 56,624 shares of the company’s stock valued at $2,228,000 after buying an additional 442 shares during the period. Fisher Asset Management LLC boosted its position in shares of Globant SA by 11.4% in the second quarter. Fisher Asset Management LLC now owns 7,100 shares of the company’s stock valued at $285,000 after buying an additional 726 shares during the period. Geode Capital Management LLC boosted its position in shares of Globant SA by 8.5% in the first quarter. Geode Capital Management LLC now owns 16,370 shares of the company’s stock valued at $505,000 after buying an additional 1,280 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Globant SA during the second quarter valued at about $108,000. Finally, KCG Holdings Inc. purchased a new position in shares of Globant SA during the second quarter valued at about $230,000. 61.24% of the stock is owned by institutional investors and hedge funds.
Globant SA 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Globant SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant SA and related companies with MarketBeat.com's FREE daily email newsletter.