BidaskClub Downgrades Globant S.A. (GLOB) to Sell
Globant S.A. (NYSE:GLOB) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other research firms have also commented on GLOB. Cowen and Company reissued a “buy” rating and set a $50.00 price target on shares of Globant in a research report on Thursday, October 12th. 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. SunTrust Banks, Inc. reissued a “hold” rating on shares of Globant in a research report on Sunday, October 22nd. KeyCorp reissued a “hold” rating on shares of Globant in a research report on Thursday, September 28th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $42.00 price target (up from $36.00) on shares of Globant in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Globant presently has an average rating of “Hold” and an average target price of $44.86.
Shares of Globant (NYSE GLOB) opened at 37.72 on Wednesday. The firm’s 50-day moving average is $39.82 and its 200-day moving average is $40.40. Globant has a 52 week low of $30.90 and a 52 week high of $47.51. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 45.50 and a beta of 0.88.
Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 17th. The information technology services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). The firm had revenue of $99.60 million during the quarter, compared to analyst estimates of $95.79 million. Globant had a net margin of 8.61% and a return on equity of 15.08%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities research analysts anticipate that Globant will post $1.25 EPS for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors lifted its position in Globant by 0.4% during the 2nd quarter. Capital World Investors now owns 3,009,468 shares of the information technology services provider’s stock worth $130,731,000 after acquiring an additional 12,293 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Globant by 13.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,580,601 shares of the information technology services provider’s stock worth $112,101,000 after purchasing an additional 297,985 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in Globant by 6.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,531,564 shares of the information technology services provider’s stock worth $66,531,000 after purchasing an additional 94,412 shares during the last quarter. Riverbridge Partners LLC purchased a new stake in Globant during the 2nd quarter worth approximately $43,179,000. Finally, Grandeur Peak Global Advisors LLC increased its holdings in Globant by 0.8% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock worth $22,633,000 after purchasing an additional 3,975 shares during the last quarter. 66.11% 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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