Globant SA (GLOB) Receives a Rating Update from a Top Analyst


Cantor Fitzgerald analyst Joseph Foresi maintained a Hold rating on Globant SA (GLOB) today and set a price target of $80. The company’s shares opened today at $79.31, close to its 52-week high of $85.41.

Foresi noted:

“. We maintain our Neutral rating and raise our 12-month PT to $80 from $67 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 2019 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 21.6% and a 85.5% success rate. Foresi covers the Technology sector, focusing on stocks such as International Business Machines Corporation, Jack Henry & Associates, and Fidelity National Info.

Globant SA has an analyst consensus of Strong Buy, with a price target consensus of $80.80.

See today’s analyst top recommended stocks >>

Based on Globant SA’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $11.51 million. In comparison, last year the company had a net profit of $10.17 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts