Shares of Globant SA (NYSE:GLOB) reached a new 52-week high during trading on Tuesday . The company traded as high as $83.66 and last traded at $83.62, with a volume of 6889 shares traded. The stock had previously closed at $80.09.

A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Globant from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Friday, January 4th. Morgan Stanley assumed coverage on shares of Globant in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $85.00 target price on the stock. Itau BBA Securities downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a research report on Friday, February 15th. Wedbush lifted their target price 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. Finally, ValuEngine raised shares of Globant from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Globant has a consensus rating of “Buy” and a consensus target price of $73.38.

The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 60.16 and a beta of 0.94.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $140.14 million for the quarter, compared to the consensus estimate of $139.32 million. Globant had a net margin of 9.89% and a return on equity of 16.40%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. As a group, equities research analysts expect that Globant SA will post 1.72 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley grew its position in Globant by 8.0% during the third quarter. Morgan Stanley now owns 3,916,084 shares of the information technology services provider’s stock valued at $231,010,000 after purchasing an additional 289,250 shares in the last quarter. Mackenzie Financial Corp grew its position in Globant by 151.7% during the fourth quarter. Mackenzie Financial Corp now owns 623,994 shares of the information technology services provider’s stock valued at $35,143,000 after purchasing an additional 376,047 shares in the last quarter. Bank of New York Mellon Corp grew its position in Globant by 81.7% during the fourth quarter. Bank of New York Mellon Corp now owns 575,405 shares of the information technology services provider’s stock valued at $32,407,000 after purchasing an additional 258,748 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Globant by 27.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 498,392 shares of the information technology services provider’s stock valued at $28,070,000 after purchasing an additional 106,241 shares in the last quarter. Finally, BlackRock Inc. grew its position in Globant by 14.2% during the fourth quarter. BlackRock Inc. now owns 474,194 shares of the information technology services provider’s stock valued at $26,707,000 after purchasing an additional 59,090 shares in the last quarter. 79.38% of the stock is currently owned by hedge funds and other institutional investors.

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Globant Company Profile (NYSE:GLOB)

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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