Globant S.A. (NYSE:GLOB) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC lifted its position in Globant S.A. (NYSE:GLOB) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,907 shares of the information technology services provider’s stock after acquiring an additional 586 shares during the period. Advisory Services Network LLC’s holdings in Globant were worth $1,052,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GLOB. Centricity Wealth Management LLC purchased a new position in Globant in the 4th quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new stake in shares of Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB purchased a new position in Globant during the third quarter worth approximately $40,000. Van Berkom & Associates Inc. acquired a new position in Globant during the fourth quarter worth $45,000. Finally, Promus Capital LLC acquired a new position in Globant during the fourth quarter worth $64,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Scotiabank reduced their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a research note on Monday. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler lowered their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $214.69.

Globant Trading Up 2.8 %

GLOB opened at $107.59 on Monday. The stock’s 50-day moving average price is $150.16 and its 200 day moving average price is $193.06. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 2.38 and a beta of 1.50.

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

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.