Globant SA (NYSE:GLOB) fell 8.6% during mid-day trading on Friday . The stock traded as low as $99.16 and last traded at $99.83, 674,626 shares traded hands during trading. An increase of 133% from the average session volume of 289,609 shares. The stock had previously closed at $109.26.

Several equities research analysts have recently commented on the company. William Blair reissued a “buy” rating on shares of Globant in a research note on Friday, August 16th. ValuEngine lowered Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered Globant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 16th. HSBC lowered Globant from a “hold” rating to a “reduce” rating and boosted their price target for the stock from $52.00 to $80.00 in a research note on Tuesday, September 10th. Finally, Cowen set a $116.00 price target on Globant and gave the stock a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Globant presently has a consensus rating of “Buy” and a consensus target price of $90.90.

The company has a 50 day moving average price of $95.29 and a 200 day moving average price of $96.15. The firm has a market cap of $3.98 billion, a PE ratio of 71.82 and a beta of 0.93.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, November 14th. The information technology services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.13. The business had revenue of $171.33 million for the quarter, compared to analyst estimates of $171.32 million. Globant had a return on equity of 17.35% and a net margin of 8.46%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS. Equities analysts anticipate that Globant SA will post 1.78 EPS for the current year.

Large investors have recently made changes to their positions in the company. FTB Advisors Inc. lifted its stake in Globant by 42.4% in the 2nd 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 in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Globant in the 3rd quarter valued at approximately $55,000. NEXT Financial Group Inc lifted its stake in Globant by 15.3% in the 3rd quarter. NEXT Financial Group Inc now owns 1,569 shares of the information technology services provider’s stock valued at $144,000 after buying an additional 208 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Globant in the 2nd quarter valued at approximately $152,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in Globant by 1,182.4% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock valued at $192,000 after buying an additional 1,750 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors and hedge funds.

Globant Company Profile (NYSE:GLOB)

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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