Globant (NYSE:GLOB) Sets New 12-Month Low at $145.42

Globant S.A. (NYSE:GLOB – Get Rating)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $145.42 and last traded at $149.50, with a volume of 109286 shares changing hands. The stock had previously closed at $153.47.

Analysts Set New Price Targets

Several analysts have issued reports on GLOB shares. Citigroup cut their target price on shares of Globant from $270.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, November 21st. Cowen cut their target price on shares of Globant from $210.00 to $207.00 and set an “outperform” rating on the stock in a research note on Friday, November 18th. HSBC started coverage on shares of Globant in a research note on Thursday, February 2nd. They set a “buy” rating and a $240.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Globant from $224.00 to $221.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 14th. Finally, KeyCorp cut their target price on shares of Globant from $291.00 to $232.00 and set an “overweight” rating on the stock in a research note on Friday, November 18th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.11.

Globant Stock Up 2.8 %

The firm has a market capitalization of $6.74 billion, a price-to-earnings ratio of 45.63 and a beta of 1.43. The stock’s 50 day moving average price is $165.87 and its two-hundred day moving average price is $178.16.

Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $490.72 million during the quarter, compared to analyst estimates of $489.67 million. Globant had a return on equity of 12.09% and a net margin of 8.36%. On average, equities analysts expect that Globant S.A. will post 4.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

Several hedge funds have recently bought and sold shares of the business. MGO One Seven LLC increased its position in Globant by 1.9% during the second quarter. MGO One Seven LLC now owns 2,648 shares of the information technology services provider’s stock worth $461,000 after buying an additional 50 shares during the last quarter. Veriti Management LLC boosted its holdings in Globant by 3.8% during the fourth quarter. Veriti Management LLC now owns 1,712 shares of the information technology services provider’s stock valued at $288,000 after acquiring an additional 62 shares during the period. Private Advisor Group LLC boosted its holdings in Globant by 5.2% during the first quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock valued at $336,000 after acquiring an additional 63 shares during the period. Amalgamated Bank boosted its holdings in Globant by 0.7% during the fourth quarter. Amalgamated Bank now owns 9,372 shares of the information technology services provider’s stock valued at $1,576,000 after acquiring an additional 68 shares during the period. Finally, CWM LLC boosted its holdings in Globant by 18.7% during the third quarter. CWM LLC now owns 458 shares of the information technology services provider’s stock valued at $86,000 after acquiring an additional 72 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.

About Globant

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Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.