Oppenheimer Asset Management Inc. Has $11.23 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Oppenheimer Asset Management Inc. increased its position in Globant S.A. (NYSE:GLOB) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,355 shares of the information technology services provider’s stock after buying an additional 2,697 shares during the period. Oppenheimer Asset Management Inc. owned 0.22% of Globant worth $11,225,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after acquiring an additional 203,472 shares in the last quarter. Capital International Investors lifted its position in Globant by 13.1% in the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock valued at $364,723,000 after acquiring an additional 197,064 shares in the last quarter. Victory Capital Management Inc. lifted its position in Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after acquiring an additional 96,257 shares in the last quarter. Manning & Napier Advisors LLC lifted its position in Globant by 86.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider’s stock valued at $106,850,000 after acquiring an additional 420,382 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Globant by 3.5% in the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock valued at $129,252,000 after acquiring an additional 20,365 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLOB has been the topic of several recent research reports. The Goldman Sachs Group cut shares of Globant from a “buy” rating to a “neutral” rating and dropped their price target for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Scotiabank dropped their price target on shares of Globant from $170.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC dropped their target price on shares of Globant from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. Mizuho set a $153.00 target price on shares of Globant and gave the stock an “outperform” rating in a research report on Monday, May 19th. Finally, Susquehanna dropped their target price on shares of Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.19.

Globant Stock Performance

Shares of GLOB opened at $88.40 on Tuesday. The firm has a market cap of $3.89 billion, a PE ratio of 26.15, a PEG ratio of 1.69 and a beta of 1.24. The stock’s fifty day moving average price is $107.76 and its two-hundred day moving average price is $154.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. Globant S.A. has a 1 year low of $86.02 and a 1 year high of $238.32.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.08). The firm had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. On average, equities research analysts forecast that Globant S.A. will post 5.73 EPS 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.