In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Hold rating on Globant SA (GLOB), with a price target of $57. The company’s shares closed yesterday at $52.89.
Foresi noted:
“. We maintain our Neutral rating and 12-month PT of $57 on shares of GLOB. We continue to look for a more-favorable risk/reward. The company reported strong top-line quarterly results as its high potential accounts performed well, and it raised 2018 revenue and EPS guidance. Management believes SG&A leverage will continue to have a positive effect on margins. We like Globant’s positioning at the heart of the digital movement and continue to look for an opportunity to become more constructive.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 16.7% and a 74.3% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Globant SA is a Moderate Buy with an average price target of $61.50.
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The company has a one-year high of $66.41 and a one-year low of $37.55. Currently, Globant SA has an average volume of 265.1K.
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Globant SA engages in the provision of information technology services. It offers application development and maintenance, testing, and infrastructure management. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne and Néstor Nocetti in 2003 and is headquartered in Luxembourg.
