The stock of Globant SA (NYSE:GLOB) hit a new 52-week high and has $72.59 target or 62.00% above today’s $44.81 share price. The 6 months bullish chart indicates low risk for the $1.57B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $72.59 price target is reached, the company will be worth $973.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 73,589 shares traded hands. Globant SA (NYSE:GLOB) has risen 44.15% since March 16, 2016 and is uptrending. It has outperformed by 38.60% the S&P500.
Analysts await Globant SA (NYSE:GLOB) to report earnings on November, 3. They expect $0.29 EPS, up 26.09% or $0.06 from last year’s $0.23 per share. GLOB’s profit will be $10.16 million for 38.63 P/E if the $0.29 EPS becomes a reality. After $0.25 actual EPS reported by Globant SA for the previous quarter, Wall Street now forecasts 16.00% EPS growth.
Globant SA (NYSE:GLOB) Ratings Coverage
Out of 7 analysts covering Globant SA (NYSE:GLOB), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Globant SA has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, August 11 by JP Morgan. The stock of Globant SA (NYSE:GLOB) has “Hold” rating given on Monday, May 16 by Jefferies. The rating was initiated by Sterne Agee CRT on Thursday, December 17 with “Buy”. Jefferies initiated it with “Hold” rating and $30 target price in Wednesday, August 12 report. Citigroup upgraded Globant SA (NYSE:GLOB) on Monday, February 8 to “Buy” rating. The stock of Globant SA (NYSE:GLOB) earned “Buy” rating by SunTrust on Monday, December 21. Citigroup maintained Globant SA (NYSE:GLOB) rating on Thursday, August 11. Citigroup has “Buy” rating and $48.50 price target. The stock of Globant SA (NYSE:GLOB) has “Hold” rating given on Friday, October 16 by Cantor Fitzgerald. The company was initiated on Friday, September 9 by Wedbush.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.33 in 2016 Q2. Its down 0.28, from 1.61 in 2016Q1. The ratio turned negative, as 12 funds sold all Globant SA shares owned while 31 reduced positions. 18 funds bought stakes while 39 increased positions. They now own 18.01 million shares or 8.81% more from 16.56 million shares in 2016Q1.
Keybank Association Oh, a Ohio-based fund reported 7,437 shares. Moreover, Ativo Cap Lc has 0.31% invested in Globant SA (NYSE:GLOB) for 32,352 shares. Globeflex Limited Partnership last reported 1,171 shares in the company. The Pennsylvania-based Pnc Service Grp Inc has invested 0% in Globant SA (NYSE:GLOB). Fisher Asset Management Ltd Limited Liability Company has 0% invested in the company for 7,100 shares. Geode Lc has 30,410 shares for 0% of their US portfolio. Blackrock Institutional Tru Na has invested 0% of its portfolio in Globant SA (NYSE:GLOB). California State Teachers Retirement accumulated 53,906 shares or 0% of the stock. Deutsche Fincl Bank Ag holds 370,612 shares or 0.01% of its portfolio. State Board Of Administration Of Florida Retirement System holds 0% or 6,004 shares in its portfolio. Natl Bank Of Montreal Can reported 111 shares or 0% of all its holdings. Hanseatic Management Serv, a New Mexico-based fund reported 348 shares. Blackrock Ltd Liability Corp last reported 95,740 shares in the company. Citigroup, a New York-based fund reported 4,574 shares. Jpmorgan Chase reported 1.54 million shares or 0.02% of all its holdings.
More important recent Globant SA (NYSE:GLOB) news were published by: Investorplace.com which released: “Best Stocks of 2016: Globant SA (GLOB) Emerges as Digital Transformation Leader” on October 10, 2016, also Quotes.Wsj.com published article titled: “Globant SA GLOB (US: NYSE)”, Marketwatch.com published: “Plus the latest data from Realtor.com on 21 home markets across the US” on August 02, 2010. More interesting news about Globant SA (NYSE:GLOB) was released by: Investorplace.com and their article: “Best Stocks for 2016: Understated Globant SA (GLOB) Stock Continues Innovating” with publication date: July 05, 2016.
GLOB Company Profile
Globant S.A., incorporated on December 27, 2012, is a digitally native technology services company. The Companyâ€™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. It manufactures digital journeys, which consists of different software products, including mobile apps, Web apps, sensors and other software and hardware appliances that work orchestrated by a backend that uses big data and fast data to create a understanding of each consumer and how to act upon each scenario. The Firm delivers digital journeys with a comprehensive approach that includes Stay Relevant, which helps its clients stay fit for the future of their industries; Discover, which think and conceive specific digital journeys for each customer; Build, which creates each digital journey leveraging the work of its Studios, its services over platforms and its agile pods methodologies.
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