Zacks Investment Research upgraded shares of Globant (NYSE:GLOB) from a sell rating to a hold rating in a research report sent to investors on Wednesday, November 15th.
According to Zacks, “Globant S.A. is a technology services provider. The Company provides engineering, design, and innovation services for clients. Globant offers content management systems; and e-commerce applications. It is also involved in the provision of data management solutions; and quality assurance engagement strategy, mobile testing, test automation, load and performance testing, and game testing services. It provides various software solutions primarily in North America, Europe, Latin America, and internationally. Globant S.A. is based in Luxembourg. “
Other equities analysts have also issued research reports about the stock. Cowen reaffirmed a buy rating and issued a $50.00 price objective on shares of Globant in a research note on Thursday, October 12th. BidaskClub upgraded shares of Globant from a hold rating to a buy rating in a research report on Thursday, October 5th. Citigroup increased their target price on shares of Globant from $42.00 to $49.00 and gave the stock a buy rating in a research report on Wednesday, July 19th. SunTrust Banks downgraded shares of Globant from a buy rating to a hold rating and increased their target price for the stock from $43.00 to $48.00 in a research report on Thursday, July 27th. They noted that the move was a valuation call. Finally, KeyCorp reiterated a hold rating on shares of Globant in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $44.83.
A number of large investors have recently bought and sold shares of the stock. RWC Asset Management LLP grew its stake in Globant by 9.4% in the 3rd quarter. RWC Asset Management LLP now owns 431,416 shares of the information technology services provider’s stock valued at $17,287,000 after buying an additional 37,192 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Globant by 2,720.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 52,664 shares of the information technology services provider’s stock worth $2,110,000 after purchasing an additional 50,797 shares during the last quarter. Bell Bank acquired a new stake in Globant in the 3rd quarter worth $239,000. Envestnet Asset Management Inc. acquired a new stake in Globant in the 3rd quarter worth $1,700,000. Finally, Mackenzie Financial Corp grew its position in Globant by 12.1% in the 3rd quarter. Mackenzie Financial Corp now owns 428,819 shares of the information technology services provider’s stock worth $17,183,000 after purchasing an additional 46,400 shares during the last quarter. Institutional investors and hedge funds own 65.29% of the company’s stock.
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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