Globant (NYSE:GLOB) Given a $116.00 Price Target at Cowen

Globant (NYSE:GLOB) has been given a $116.00 target price by equities research analysts at Cowen in a research report issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Cowen’s target price indicates a potential upside of 26.58% from the company’s current price.

A number of other equities analysts have also weighed in on GLOB. Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. William Blair restated a “buy” rating on shares of Globant in a research report on Friday. Itau BBA Securities upgraded shares of Globant from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $74.00 to $113.00 in a research report on Friday, June 21st. Citigroup lowered shares of Globant from a “buy” rating to a “neutral” rating and upped their target price for the stock from $93.00 to $115.00 in a research report on Wednesday, July 17th. Finally, Wedbush restated an “outperform” rating and set a $90.00 target price (up previously from $75.00) on shares of Globant in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $90.80.

Shares of GLOB traded down $7.10 during mid-day trading on Friday, reaching $91.64. The stock had a trading volume of 846,459 shares, compared to its average volume of 303,524. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 65.93 and a beta of 0.84. Globant has a 12 month low of $46.30 and a 12 month high of $112.33. The business has a fifty day moving average of $105.81 and a 200 day moving average of $86.61. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). The firm had revenue of $157.50 million during the quarter, compared to the consensus estimate of $157.50 million. Globant had a return on equity of 16.97% and a net margin of 9.09%. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, research analysts forecast that Globant will post 1.73 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Bollard Group LLC bought a new position in shares of Globant during the first quarter worth $29,000. FTB Advisors Inc. boosted its position in shares of Globant by 42.4% during the second quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 111 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of Globant during the first quarter worth $42,000. Cutler Group LP bought a new position in shares of Globant during the first quarter worth $128,000. Finally, Quantamental Technologies LLC bought a new position in shares of Globant during the first quarter worth $150,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Globant Company Profile

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.

Read More: What is the definition of a trade war?

Analyst Recommendations for Globant (NYSE:GLOB)

Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.