Globant’s (NYSE:GLOB) “Neutral” Rating Reaffirmed at Cantor Fitzgerald

Globant (NYSE:GLOB)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Friday, November 17th. They currently have a $36.00 price objective on the information technology services provider’s stock, down from their previous price objective of $42.00. Cantor Fitzgerald’s price target indicates a potential downside of 8.42% from the stock’s current price.

A number of other research firms also recently commented on GLOB. Zacks Investment Research upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. KeyCorp reiterated a “hold” rating on shares of Globant in a report on Thursday, September 28th. SunTrust Banks reissued a “hold” rating on shares of Globant in a research report on Sunday, October 22nd. Wedbush reissued an “outperform” rating and issued a $48.00 target price on shares of Globant in a research report on Saturday, October 14th. Finally, BidaskClub raised shares of Globant from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.83.

Shares of Globant (GLOB) opened at $39.31 on Friday. Globant has a fifty-two week low of $30.90 and a fifty-two week high of $47.51. The company has a market cap of $1,379.78, a P/E ratio of 45.71 and a beta of 0.83.

Hedge funds have recently bought and sold shares of the business. Citigroup Inc. grew its position in Globant by 146.7% in the second quarter. Citigroup Inc. now owns 5,353 shares of the information technology services provider’s stock worth $233,000 after acquiring an additional 3,183 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Globant by 0.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock worth $1,451,000 after acquiring an additional 100 shares in the last quarter. Aberdeen Asset Management PLC UK grew its position in Globant by 4.8% in the second quarter. Aberdeen Asset Management PLC UK now owns 197,577 shares of the information technology services provider’s stock worth $8,583,000 after acquiring an additional 9,000 shares in the last quarter. Teachers Advisors LLC grew its position in Globant by 6.2% in the first quarter. Teachers Advisors LLC now owns 43,970 shares of the information technology services provider’s stock worth $1,601,000 after acquiring an additional 2,578 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC grew its position in Globant by 0.8% in the second quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock worth $22,633,000 after acquiring an additional 3,975 shares in the last quarter. 65.26% of the stock is owned by institutional investors.

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Globant Company Profile

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.

Analyst Recommendations for Globant (NYSE:GLOB)

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