Globant SA (NYSE:GLOB) has been assigned an average recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $78.13.

Several research analysts have recently weighed in on GLOB shares. Itau BBA Securities upgraded Globant from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $74.00 to $113.00 in a report on Friday, June 21st. Wedbush restated an “outperform” rating on shares of Purple Innovation in a report on Wednesday, May 8th. Morgan Stanley set a $165.00 target price on Caterpillar and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Zacks Investment Research cut HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th.

Hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB acquired a new position in shares of Globant during the second quarter worth $303,000. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in Globant in the first quarter valued at $230,000. Redhawk Wealth Advisors Inc. acquired a new position in Globant in the first quarter valued at $437,000. Marshall Wace LLP acquired a new position in Globant in the first quarter valued at $2,047,000. Finally, American Capital Management Inc. boosted its stake in Globant by 26.4% in the first quarter. American Capital Management Inc. now owns 7,041 shares of the information technology services provider’s stock valued at $503,000 after acquiring an additional 1,470 shares in the last quarter. 79.06% of the stock is currently owned by hedge funds and other institutional investors.

GLOB stock traded down $0.19 during trading on Friday, hitting $108.37. The stock had a trading volume of 12,404 shares, compared to its average volume of 325,162. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 2.29. Globant has a twelve month low of $46.30 and a twelve month high of $109.78. The stock has a market cap of $3.95 billion, a PE ratio of 77.64 and a beta of 0.84. The business’s 50-day moving average price is $98.23.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $146.15 million for the quarter, compared to analysts’ expectations of $145.23 million. Globant had a return on equity of 16.35% and a net margin of 9.77%. Globant’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. As a group, equities analysts anticipate that Globant will post 1.72 earnings per share for the current fiscal year.

Globant Company Profile

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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Analyst Recommendations for Globant (NYSE:GLOB)

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