Globant (NYSE:GLOB) Cut to Buy at ValuEngine
A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Globant from a buy rating to a hold rating in a research report on Friday, August 9th. Citigroup lowered shares of Globant from a buy rating to a neutral rating and upped their price objective for the company from $93.00 to $115.00 in a research report on Wednesday, July 17th. William Blair reaffirmed a buy rating on shares of Globant in a research report on Friday, August 16th. Cowen set a $116.00 price objective on shares of Globant and gave the company a buy rating in a research report on Friday, August 16th. Finally, Wedbush reaffirmed an outperform rating and set a $90.00 price objective (up previously from $75.00) on shares of Globant in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Globant has an average rating of Buy and an average target price of $89.30.
Globant stock opened at $96.82 on Tuesday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 57.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.26 and a quick ratio of 2.29. Globant has a fifty-two week low of $46.30 and a fifty-two week high of $112.33. The firm has a fifty day moving average price of $104.97 and a two-hundred day moving average price of $87.15.
Institutional investors and hedge funds have recently made changes to their positions in the company. FTB Advisors Inc. raised its position in shares of Globant by 42.4% during the second quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 111 shares during the last quarter. Bollard Group LLC bought a new stake in Globant in the first quarter valued at about $29,000. Icon Wealth Partners LLC bought a new stake in Globant in the first quarter valued at about $42,000. Harvest Fund Management Co. Ltd bought a new stake in Globant in the second quarter valued at about $152,000. Finally, Cutler Group LP bought a new stake in Globant in the first quarter valued at about $128,000. 85.25% of the stock is owned by institutional investors and hedge funds.
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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