International Assets Investment Management LLC Makes New $4.59 Million Investment in Globant S.A. (NYSE:GLOB)

International Assets Investment Management LLC bought a new stake in Globant S.A. (NYSE:GLOB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,276 shares of the information technology services provider’s stock, valued at approximately $4,587,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Alliance raised its position in Globant by 3.5% during the third quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock worth $349,000 after acquiring an additional 59 shares during the last quarter. Janney Capital Management LLC raised its position in shares of Globant by 2.5% during the 3rd quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 61 shares during the last quarter. CI Investments Inc. lifted its stake in Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Globant by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 18,105 shares of the information technology services provider’s stock valued at $3,582,000 after buying an additional 90 shares during the last quarter. Finally, Mariner LLC increased its position in Globant by 3.1% during the third quarter. Mariner LLC now owns 3,987 shares of the information technology services provider’s stock worth $789,000 after buying an additional 120 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Down 1.5 %

Shares of Globant stock opened at $191.05 on Thursday. The stock has a market cap of $8.23 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. Globant S.A. has a 12 month low of $135.40 and a 12 month high of $251.50. The business has a fifty day simple moving average of $197.94 and a 200-day simple moving average of $211.78.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLOB. Piper Sandler increased their price objective on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. cut their price objective on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. HSBC lowered their price target on shares of Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Needham & Company LLC upped their target price on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, KeyCorp increased their price target on shares of Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.35.

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.