FourThought Financial Partners LLC Has $534,000 Stock Position in Globant S.A. (NYSE:GLOB)

FourThought Financial Partners LLC cut its position in shares of Globant S.A. (NYSE:GLOB) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,492 shares of the information technology services provider’s stock after selling 113 shares during the period. FourThought Financial Partners LLC’s holdings in Globant were worth $534,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wasatch Advisors LP raised its stake in Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after acquiring an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after acquiring an additional 153,385 shares in the last quarter. Victory Capital Management Inc. raised its stake in Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after acquiring an additional 1,431,112 shares in the last quarter. Jennison Associates LLC raised its stake in Globant by 0.6% during the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after acquiring an additional 4,970 shares in the last quarter. Finally, abrdn plc increased its stake in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after buying an additional 126,333 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Up 1.5 %

Shares of GLOB opened at $156.22 on Wednesday. Globant S.A. has a 1 year low of $151.38 and a 1 year high of $238.32. The stock has a market cap of $6.73 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The stock’s 50-day moving average price is $211.36 and its two-hundred day moving average price is $210.54.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. As a group, equities analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Piper Sandler lowered their target price on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Canaccord Genuity Group lowered their target price on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday. UBS Group lowered their target price on Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and a consensus target price of $222.89.

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.