Could Globant S.A. (GLOB) Lose its Strength? The Stock Reaches 52-Week High

June 14, 2018 - By Linda Rogers

Globant S.A. (NYSE:GLOB) Logo

Investors sentiment increased to 1.29 in Q1 2018. Its up 0.06, from 1.23 in 2017Q4. It is positive, as 8 investors sold Globant S.A. shares while 33 reduced holdings. 20 funds opened positions while 33 raised stakes. 20.94 million shares or 4.36% less from 21.90 million shares in 2017Q4 were reported.
Bell Bank reported 0.11% in Globant S.A. (NYSE:GLOB). Bancshares Of America Corp De stated it has 121,433 shares. Fdx Advsrs Incorporated owns 5,901 shares or 0.01% of their US portfolio. 56,300 were reported by Renaissance Ltd. Cubist Systematic Strategies Ltd Limited Liability Company reported 0.03% stake. Amundi Pioneer Asset Mngmt accumulated 168,700 shares or 0.01% of the stock. Carroll Associates reported 151 shares. Engineers Gate Manager L P invested in 15,361 shares. Fred Alger reported 494,906 shares. Parametric Associate Ltd Liability has invested 0% in Globant S.A. (NYSE:GLOB). Hood River Management Limited Co has invested 1.22% in Globant S.A. (NYSE:GLOB). 6,591 were accumulated by California Employees Retirement. 6,620 are held by Alliancebernstein Limited Partnership. Oppenheimer Asset Mngmt has 55,417 shares. Comgest Invsts Sas, a France-based fund reported 44,972 shares.

The stock of Globant S.A. (NYSE:GLOB) hit a new 52-week high and has $56.67 target or 4.00 % above today’s $54.49 share price. The 5 months bullish chart indicates low risk for the $1.95 billion company. The 1-year high was reported on Jun, 14 by Barchart.com. If the $56.67 price target is reached, the company will be worth $77.88 million 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.

The stock decreased 0.33% or $0.18 during the last trading session, reaching $54.49. About 84,676 shares traded. Globant S.A. (NYSE:GLOB) has risen 29.17% since June 14, 2017 and is uptrending. It has outperformed by 16.60% the S&P500.

Analysts await Globant S.A. (NYSE:GLOB) to report earnings on August, 16. They expect $0.28 earnings per share, up 180.00 % or $0.18 from last year’s $0.1 per share. GLOB’s profit will be $10.00M for 48.65 P/E if the $0.28 EPS becomes a reality. After $0.30 actual earnings per share reported by Globant S.A. for the previous quarter, Wall Street now forecasts -6.67 % negative EPS growth.

Globant S.A. (NYSE:GLOB) Ratings Coverage

Among 4 analysts covering Globant SA (NYSE:GLOB), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Globant SA had 4 analyst reports since January 26, 2018 according to SRatingsIntel. The rating was upgraded by SunTrust on Wednesday, April 4 to “Buy”. The firm has “Overweight” rating given on Tuesday, February 20 by JP Morgan. The firm has “Buy” rating by Cowen & Co given on Friday, January 26.

More news for Globant S.A. (NYSE:GLOB) were recently published by: Profitconfidential.com, which released: “GLOB Stock: Soaring High on Digital Services” on May 17, 2018. Globenewswire.com‘s article titled: “Factors of Influence in 2018, Key Indicators and Opportunity within Assembly Biosciences, MGP Ingredients, Globant …” and published on May 29, 2018 is yet another important article.

Globant S.A. develops and provides software solutions to clients in North America, the Latin America, Europe, and Asia. The company has market cap of $1.95 billion. It offers API management, e-commerce, and digital solutions; graphics engineering, game engineering, gaming experience, VR/AR development, and digital platform services; Big Data services, such as data integration, data architecture, scalable platform, blockchain, data visualization, and data science; testing center, test automation, mobile testing, and load and performance testing services. It has a 63.36 P/E ratio. The firm also provides enterprise consumerization services, including enterprise operations, collaboration solutions, cloud development, and talent management; UX design services comprising service, user experience, industrial design, and visual design; and native development, product development, and enterprise mobility services for mobiles.

Globant S.A. (NYSE:GLOB) Ratings Chart

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