Globant (GLOB) Sets New 52-Week High at $74.84

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Globant SA (NYSE:GLOB)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $74.84 and last traded at $74.89, with a volume of 7911 shares traded. The stock had previously closed at $72.64.

Several brokerages have recently issued reports on GLOB. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Monday, December 24th. ValuEngine raised shares of Globant from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $67.00 price objective on shares of Globant in a research note on Friday, February 15th. SunTrust Banks lifted their price objective on shares of Globant to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Finally, Wedbush lifted their price objective on shares of Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 13th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $64.75.

The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 51.81 and a beta of 0.94.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $140.14 million for the quarter, compared to the consensus estimate of $139.32 million. Globant had a net margin of 9.89% and a return on equity of 16.40%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. As a group, equities research analysts expect that Globant SA will post 1.72 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Comerica Bank acquired a new stake in shares of Globant during the third quarter worth approximately $1,068,000. Gotham Asset Management LLC boosted its holdings in shares of Globant by 133.9% during the fourth quarter. Gotham Asset Management LLC now owns 86,143 shares of the information technology services provider’s stock worth $4,852,000 after purchasing an additional 49,309 shares during the period. Bamco Inc. NY boosted its holdings in shares of Globant by 5.9% during the third quarter. Bamco Inc. NY now owns 34,680 shares of the information technology services provider’s stock worth $2,046,000 after purchasing an additional 1,933 shares during the period. Rehmann Capital Advisory Group boosted its holdings in shares of Globant by 6,078.1% during the third quarter. Rehmann Capital Advisory Group now owns 31,323 shares of the information technology services provider’s stock worth $531,000 after purchasing an additional 30,816 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Globant by 7.4% during the third quarter. BlackRock Inc. now owns 415,104 shares of the information technology services provider’s stock worth $24,487,000 after purchasing an additional 28,454 shares during the period. 80.75% of the stock is currently owned by institutional investors and hedge funds.

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About Globant (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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