Pacific Crest Initiates Coverage on Globant SA to Sector Weight

Pacific Crest Initiates Coverage on Globant SA(NYSE:GLOB). The shares have been rated Sector Weight. The rating by Pacific Crest was issued on Jul 12, 2016.

In a different note, On May 16, 2016, Jefferies said it Maintains its rating on Globant SA. In the research note, the firm Raises the price-target to $30.00 per share. The shares have been rated ‘Hold’ by the firm.

Globant SA (GLOB) shares turned negative on Fridays trading session with the shares closing down -0.88 points or -2.09% at a volume of 3,39,040. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $42.36. The peak price level was also seen at $42.36 while the days lowest was $40.99. Finally the shares closed at $41.14. The 52-week high of the shares is $42.96 while the 52-week low is $22.505. According to the latest information available, the market cap of the company is $1,415 M.

Globant SA(GLOB) last announced its earnings results on May 9, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $73.33M. Analysts had an estimated revenue of $69.84M. Earnings per share were $0.24. Analysts had estimated an EPS of $0.23.

Globant S.A. is a technology services provider. As of December 31 2014 the Company had 3775 Globers and 29 delivery centers across 19 cities in Argentina Uruguay Colombia Brazil Mexico Peru and the United States supported by four client management locations in the United States and one client management location in each of United Kingdom Colombia Uruguay Argentina and Brazil. The Company’s 12 Studios include Consumer Experience; Gaming; Big Data and High Performance; Quality Engineering; Enterprise Consumerization; UX and Social; Mobile; Cloud Computing and Infrastructure; Wearables and Internet of Things; After Going Live; Digital Content; and Product Innovation. The Globers for each Studio include engineers architects artists and designers business analysts quality control analysts marketing professionals and project managers.

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