Globant SA (GLOB) Receives Average Rating of “Hold” from Analysts

Globant SA (NYSE:GLOB) has received a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $48.17.

Several research analysts recently commented on GLOB shares. Cantor Fitzgerald restated a “neutral” rating and set a $36.00 target price (down previously from $42.00) on shares of Globant in a report on Friday, November 17th. Zacks Investment Research cut shares of Globant from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 22nd. JPMorgan Chase & Co. restated an “overweight” rating and set a $54.00 target price (up previously from $50.00) on shares of Globant in a report on Tuesday, February 20th. SunTrust Banks increased their target price on shares of Globant to $52.00 and gave the stock a “hold” rating in a report on Wednesday, February 21st. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Globant from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th.

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Shares of Globant (NYSE GLOB) traded up $0.16 on Friday, reaching $53.29. 141,711 shares of the company traded hands, compared to its average volume of 249,088. Globant has a fifty-two week low of $33.56 and a fifty-two week high of $54.84. The firm has a market capitalization of $1,864.86, a PE ratio of 61.25 and a beta of 0.51.

A number of hedge funds and other institutional investors have recently bought and sold shares of GLOB. Compass Group LLC bought a new stake in Globant during the fourth quarter worth $33,466,000. Standard Life Aberdeen plc raised its position in shares of Globant by 215.9% in the fourth quarter. Standard Life Aberdeen plc now owns 1,012,353 shares of the information technology services provider’s stock valued at $47,034,000 after purchasing an additional 691,866 shares during the period. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Globant in the fourth quarter valued at about $19,372,000. Hood River Capital Management LLC bought a new position in shares of Globant in the fourth quarter valued at about $17,754,000. Finally, RWC Asset Management LLP raised its position in shares of Globant by 81.1% in the fourth quarter. RWC Asset Management LLP now owns 781,389 shares of the information technology services provider’s stock valued at $36,303,000 after purchasing an additional 349,973 shares during the period. 68.19% of the stock is currently owned by hedge funds and other institutional investors.

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About Globant

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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