Oppenheimer Asset Management Inc. Reduces Stock Holdings in Globant S.A. $GLOB

Oppenheimer Asset Management Inc. lowered its position in shares of Globant S.A. (NYSE:GLOB) by 21.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,645 shares of the information technology services provider’s stock after selling 20,710 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Globant were worth $6,781,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GLOB. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Globant during the first quarter valued at approximately $346,000. Bessemer Group Inc. purchased a new stake in Globant during the 1st quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Globant by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider’s stock worth $2,648,000 after buying an additional 2,967 shares during the period. Physician Wealth Advisors Inc. increased its stake in Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock worth $31,000 after buying an additional 155 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Globant by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider’s stock worth $15,868,000 after buying an additional 8,599 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Shares of NYSE GLOB opened at $62.63 on Tuesday. Globant S.A. has a twelve month low of $54.36 and a twelve month high of $238.32. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 5.69 and a beta of 1.17. The business has a 50 day simple moving average of $60.73 and a 200-day simple moving average of $85.00.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The business had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. During the same period in the previous year, the business earned $1.51 EPS. The business’s quarterly 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, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

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

Wall Street Analyst Weigh In

GLOB has been the topic of a number of analyst reports. Scotiabank raised Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 target price on the stock in a research report on Monday, July 21st. Wells Fargo & Company upgraded Globant to a “hold” rating in a report on Wednesday, October 22nd. Needham & Company LLC dropped their price objective on Globant from $115.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, August 15th. The Goldman Sachs Group dropped their price objective on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research note on Thursday, July 17th. They issued a “hold” rating and a $87.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $122.13.

About Globant

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.