Globant (NYSE:GLOB) Research Coverage Started at KeyCorp

Globant (NYSE:GLOB) Research Coverage Started at KeyCorp

Research analysts at KeyCorp began coverage on shares of Globant (NYSE:GLOBGet Rating) in a research note issued on Monday, The Fly reports. The firm set an “overweight” rating on the information technology services provider’s stock.

A number of other equities analysts also recently issued reports on GLOB. Wedbush cut their price target on Globant to $300.00 in a research note on Friday, May 20th. The Goldman Sachs Group cut their price target on Globant from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. Citigroup cut their price target on Globant from $350.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, May 20th. Cowen lifted their price target on Globant from $220.00 to $248.00 and gave the company an “outperform” rating in a research note on Friday, August 19th. Finally, Cowen lifted their price target on Globant from $220.00 to $248.00 and gave the company an “outperform” rating in a research note on Friday, August 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus price target of $265.00.

Globant Price Performance

Shares of GLOB traded down $2.61 during trading hours on Monday, hitting $227.63. The stock had a trading volume of 7,244 shares, compared to its average volume of 354,106. The firm has a 50 day simple moving average of $206.70 and a 200-day simple moving average of $214.03. The firm has a market capitalization of $9.54 billion, a P/E ratio of 75.62 and a beta of 1.46. Globant has a 1-year low of $159.56 and a 1-year high of $354.62.

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Globant (NYSE:GLOBGet Rating) last issued its earnings results on Thursday, August 18th. The information technology services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. The company had revenue of $429.30 million during the quarter, compared to the consensus estimate of $426.22 million. Globant had a return on equity of 11.53% and a net margin of 8.26%. The firm’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. Equities analysts predict that Globant will post 4.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Globant

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Globant by 77.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,377,320 shares of the information technology services provider’s stock worth $587,653,000 after purchasing an additional 1,469,846 shares during the period. Wasatch Advisors Inc. grew its position in shares of Globant by 2.0% during the 4th quarter. Wasatch Advisors Inc. now owns 2,816,482 shares of the information technology services provider’s stock valued at $884,629,000 after purchasing an additional 54,946 shares in the last quarter. Sands Capital Management LLC grew its position in shares of Globant by 11.7% during the 2nd quarter. Sands Capital Management LLC now owns 1,497,727 shares of the information technology services provider’s stock valued at $260,604,000 after purchasing an additional 156,312 shares in the last quarter. Riverbridge Partners LLC grew its position in shares of Globant by 1.2% during the 1st quarter. Riverbridge Partners LLC now owns 1,474,571 shares of the information technology services provider’s stock valued at $386,441,000 after purchasing an additional 17,533 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Globant by 1.2% during the 2nd quarter. William Blair Investment Management LLC now owns 1,289,021 shares of the information technology services provider’s stock valued at $224,290,000 after purchasing an additional 15,178 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.

About Globant

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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Analyst Recommendations for Globant (NYSE:GLOB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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