Technology services company Globant (GLOB) has acquired digital marketing firm HABITANT, an expert in paid media, MAdTech, digital sales, and digital marketing. The acquisition helps Globant expand its footprint in Europe.
Globant Co-Founder and CEO Martin Migoya said, “Organizations are challenged to reinvent themselves, to find new ways to reach their audiences and create engaging experiences.” (See Globant stock analysis on TipRanks)
Migoya added, “HABITANT’s work integrating disciplines such as digital marketing, technology, design, creativity, innovation, and data is a great complement to continue developing unique strategies and solutions that generate long-term transformations.”
On May 5, Goldman Sachs analyst Diego M. Aragao reiterated a Hold rating on the stock and raised the price target to $230 (12% upside potential) from $210.
Citigroup analyst Ashwin Shirvaikar has a Hold rating on the stock with a $240 price target. Commenting on Globant’s Q4 results, Shirvaikar noted the initial outlook as “robust.”
Furthermore, Globant is expected to report Q1 results today. Analysts expect the company to report revenue of $259.3 million and earnings per share of $0.80 for the quarter.
In Q4 2021, the company had generated revenue of $232.6 million versus consensus estimates of $222.34 million and earnings per share of $0.70 versus consensus forecasts of $0.67.
Consensus among analysts is that Globant is a Moderate Buy based on 4 Buys and 3 Holds. The average analyst price target of $235.71 implies 14.8% upside potential. Shares have gained about 75% over the past year.
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