The stock of Globant SA (NYSE:GLOB) reached all time high today, Oct, 11 and still has $67.26 target or 51.00% above today’s $44.54 share price. This indicates more upside for the $1.57 billion company. This technical setup was reported by Barchart.com. If the $67.26 PT is reached, the company will be worth $800.70M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 12,458 shares traded hands. Globant SA (NYSE:GLOB) has risen 52.88% since March 8, 2016 and is uptrending. It has outperformed by 43.56% the S&P500.
Analysts await Globant SA (NYSE:GLOB) to report earnings on November, 3. They expect $0.29 earnings per share, up 26.09% or $0.06 from last year’s $0.23 per share. GLOB’s profit will be $10.22 million for 38.40 P/E if the $0.29 EPS becomes a reality. After $0.25 actual earnings per share 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. $48.50 is the highest target while $30 is the lowest. The $44.63 average target is 0.20% above today’s ($44.54) stock price. Globant SA has been the topic of 13 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, August 11 by Citigroup. As per Thursday, August 11, the company rating was maintained by JP Morgan. The stock has “Outperform” rating given by Wedbush on Friday, September 9. The stock of Globant SA (NYSE:GLOB) has “Hold” rating given on Friday, October 16 by Cantor Fitzgerald. The firm has “Hold” rating given on Monday, May 16 by Jefferies. The rating was initiated by Sterne Agee CRT with “Buy” on Thursday, December 17. On Monday, December 21 the stock rating was initiated by SunTrust with “Buy”. The company was initiated on Wednesday, August 12 by Jefferies. The rating was upgraded by Citigroup to “Buy” on Monday, February 8.
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 Q2 2016. Its down 0.28, from 1.61 in 2016Q1. The ratio dropped, 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.
The Connecticut-based Pier Capital Lc has invested 1.2% in Globant SA (NYSE:GLOB). Ig accumulated 0.01% or 58,231 shares. The Illinois-based Northern Tru has invested 0% in Globant SA (NYSE:GLOB). Bnp Paribas Arbitrage Sa, a New York-based fund reported 1,003 shares. Wasatch Advisors, a Utah-based fund reported 1.48M shares. Credit Suisse Ag reported 13,494 shares or 0% of all its holdings. Kcg Inc has 0% invested in the company for 5,845 shares. Eam Invsts Ltd Limited Liability Company, a California-based fund reported 25,301 shares. National Bank & Trust Of New York Mellon reported 57,351 shares or 0% of all its holdings. New York State Common Retirement Fund holds 0% or 34,999 shares in its portfolio. Ativo Capital Mngmt Llc has invested 0.31% of its portfolio in Globant SA (NYSE:GLOB). Prudential last reported 148,250 shares in the company. Waddell Reed Financial, a Kansas-based fund reported 2.54M shares. The Georgia-based Herndon Capital Mgmt Limited Co has invested 0% in Globant SA (NYSE:GLOB). Wellington Mngmt Grp Inc Llp has invested 0% of its portfolio in Globant SA (NYSE:GLOB).
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: “/quotes/zigman/3870025/realtime” 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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