Federated Hermes Inc. Boosts Stake in Globant S.A. (NYSE:GLOB)

Federated Hermes Inc. boosted its holdings in shares of Globant S.A. (NYSE:GLOB) by 20.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,000 shares of the information technology services provider’s stock after buying an additional 2,000 shares during the quarter. Federated Hermes Inc.’s holdings in Globant were worth $2,856,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Trust Point Inc. acquired a new stake in Globant during the 4th quarter worth approximately $1,741,000. DekaBank Deutsche Girozentrale lifted its holdings in Globant by 146.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider’s stock worth $10,734,000 after buying an additional 26,850 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in Globant by 112.6% during the 3rd quarter. New York Life Investment Management LLC now owns 4,411 shares of the information technology services provider’s stock worth $873,000 after buying an additional 2,336 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Globant by 1.2% in the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock valued at $27,316,000 after purchasing an additional 1,584 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Globant in the 4th quarter valued at $4,587,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GLOB shares. Citigroup reduced their price objective on shares of Globant from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. HSBC reduced their price objective on shares of Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Piper Sandler raised their price objective on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Guggenheim started coverage on shares of Globant in a report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.24.

Globant Stock Performance

Shares of Globant stock opened at $180.83 on Friday. Globant S.A. has a 1 year low of $135.40 and a 1 year high of $251.50. The company has a market capitalization of $7.79 billion, a P/E ratio of 49.82, a PEG ratio of 1.35 and a beta of 1.35. The company’s fifty day moving average is $204.22 and its two-hundred day moving average is $212.07.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The business had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, equities analysts expect that Globant S.A. will post 5.03 earnings per share for the current year.

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.