Cowen & Co. Keeps Their Buy Rating on Globant SA

By Austin Angelo

In a report released today, Bryan Bergin from Cowen & Co. reiterated a Buy rating on Globant SA (NYSE: GLOB), with a price target of $50. The company’s shares closed yesterday at $41.90.

According to TipRanks.com, Bergin is a 5-star analyst with an average return of 17.3% and a 98.0% success rate. Bergin covers the Technology sector, focusing on stocks such as Sapiens International Corporation, DXC Technology Company, and Exlservice Holdings.

Globant SA has an analyst consensus of Moderate Buy, with a price target consensus of $46.67.

Based on Globant SA’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $99.59 million and quarterly net profit of $2.12 million. In comparison, last year the company earned revenue of $82.35 million and had a net profit of $9.54 million.

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Globant SA operates as an technology services provider, which focuses on delivering software solutions that leverage emerging technologies and related market trends. It also provides services related to application development, testing, infrastructure management and application maintenance.