Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on Globant SA (NYSE: GLOB) today and set a price target of $57. The company’s shares opened today at $54.89.
Foresi wrote:
“. We maintain our Neutral rating on Globant and raise our PT to $57 from $49. 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 20.8% and a 87.5% 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 Strong Buy with an average price target of $66.25.
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Globant SA’s market cap is currently $2.11B and has a P/E ratio of 65.6. The company has a Price to Book ratio of 7.49.
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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.
