Globant (GLOB) Now Covered by Morgan Stanley

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Analysts at Morgan Stanley initiated coverage on shares of Globant (NYSE:GLOB) in a report released on Wednesday, Briefing.com Automated Import reports. The firm set an “overweight” rating and a $85.00 price target on the information technology services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 6.27% from the stock’s previous close.

Several other equities research analysts also recently issued reports on GLOB. Zacks Investment Research downgraded shares of Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Wedbush raised their price objective on shares of Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. ValuEngine upgraded shares of Globant from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. SunTrust Banks raised their price objective on shares of Globant to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Finally, Itau BBA Securities downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a research report on Friday, February 15th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Globant presently has an average rating of “Buy” and an average target price of $67.00.

NYSE:GLOB traded up $3.62 during mid-day trading on Wednesday, hitting $79.99. The stock had a trading volume of 147,933 shares, compared to its average volume of 216,243. Globant has a twelve month low of $43.29 and a twelve month high of $77.63. The company has a market capitalization of $2.78 billion, a P/E ratio of 57.54 and a beta of 0.94.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Globant had a net margin of 9.89% and a return on equity of 16.40%. The business had revenue of $140.14 million during the quarter, compared to the consensus estimate of $139.32 million. During the same period last year, the business posted $0.39 EPS. Globant’s revenue was up 21.4% on a year-over-year basis. Equities research analysts anticipate that Globant will post 1.72 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. Claybrook Capital LLC bought a new position in shares of Globant during the fourth quarter worth approximately $26,000. Daiwa Securities Group Inc. bought a new position in Globant in the fourth quarter valued at approximately $28,000. We Are One Seven LLC bought a new position in Globant in the fourth quarter valued at approximately $118,000. Quantbot Technologies LP bought a new position in Globant in the third quarter valued at approximately $175,000. Finally, Caxton Associates LP bought a new position in Globant in the third quarter valued at approximately $217,000. 79.64% of the stock is currently owned by institutional investors.

About Globant

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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Analyst Recommendations for Globant (NYSE:GLOB)

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