Lecap Asset Management Ltd. Buys New Shares in Globant S.A. $GLOB

Lecap Asset Management Ltd. bought a new stake in shares of Globant S.A. (NYSE:GLOB) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 20,420 shares of the information technology services provider’s stock, valued at approximately $1,855,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Avior Wealth Management LLC grew its holdings in shares of Globant by 27.9% during the 2nd quarter. Avior Wealth Management LLC now owns 3,850 shares of the information technology services provider’s stock valued at $350,000 after purchasing an additional 841 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Globant in the 2nd quarter worth $272,000. GAMMA Investing LLC grew its holdings in Globant by 33.2% in the 2nd quarter. GAMMA Investing LLC now owns 988 shares of the information technology services provider’s stock worth $90,000 after acquiring an additional 246 shares during the last quarter. Park Avenue Securities LLC bought a new stake in Globant in the 2nd quarter worth $558,000. Finally, Border to Coast Pensions Partnership Ltd grew its holdings in Globant by 13.0% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 154,837 shares of the information technology services provider’s stock worth $14,065,000 after acquiring an additional 17,843 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GLOB. UBS Group cut their price target on shares of Globant from $120.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Canaccord Genuity Group reissued a “hold” rating and issued a $97.00 price target (down previously from $165.00) on shares of Globant in a report on Thursday, June 26th. Guggenheim reissued a “buy” rating and issued a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a report on Thursday, July 17th. They issued a “hold” rating and a $87.00 price target on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of Globant from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Globant currently has a consensus rating of “Moderate Buy” and an average target price of $139.47.

Globant Trading Down 0.8%

Shares of NYSE GLOB opened at $56.91 on Thursday. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $238.32. The stock has a market cap of $2.51 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. The firm has a 50-day moving average of $68.46 and a 200 day moving average of $92.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The company had revenue of $614.18 million during the quarter, compared to analysts’ expectations of $612.66 million. During the same period last year, the company posted $1.51 EPS. Globant’s revenue was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, sell-side analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant announced that its board has authorized a share repurchase plan on Wednesday, October 1st that permits the company to buyback $125.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.