Wedbush Starts Globant S.A. (GLOB) at Outperform

September 9, 2016 7:20 AM EDT
Get Alerts GLOB Hot Sheet
Price: $47.13 +6.51%

Rating Summary:
    7 Buy, 3 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
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Wedbush initiates coverage on Globant S.A. (NYSE: GLOB) with a Outperform rating and a price target of $48.00.

Analyst Moshe Katri commented, "We are initiating coverage on Globant with an OUTPERFORM and $48 price target, reflecting the company's focus on the fastest-growing segment in IT Services (SMAC), with the incremental benefits associated with project execution out of LatAM. We believe Globant is well-positioned to generate 20-25% top-line growth during the next 2-3 years. Globant's stock currently trades at 26.1X our projected FY17E adj. EPS."

For an analyst ratings summary and ratings history on Globant S.A. click here. For more ratings news on Globant S.A. click here.

Shares of Globant S.A. closed at $39.41 yesterday.

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