Globant S.A. (NYSE:GLOB) Position Lifted by Wasatch Advisors LP

Wasatch Advisors LP raised its position in Globant S.A. (NYSE:GLOB) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,336,764 shares of the information technology services provider’s stock after buying an additional 213,049 shares during the period. Globant comprises about 3.5% of Wasatch Advisors LP’s portfolio, making the stock its largest holding. Wasatch Advisors LP owned approximately 7.74% of Globant worth $673,693,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. CWM LLC boosted its holdings in Globant by 13.5% in the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after purchasing an additional 68 shares during the last quarter. Janney Capital Management LLC lifted its holdings in Globant by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 2,538 shares of the information technology services provider’s stock valued at $604,000 after acquiring an additional 76 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Globant by 1.0% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,205 shares of the information technology services provider’s stock worth $2,191,000 after acquiring an additional 89 shares during the period. Treasurer of the State of North Carolina increased its stake in Globant by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 18,105 shares of the information technology services provider’s stock worth $3,582,000 after acquiring an additional 90 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in Globant by 1.3% in the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the information technology services provider’s stock valued at $1,904,000 after purchasing an additional 100 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GLOB. TD Cowen decreased their target price on shares of Globant from $235.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Citigroup decreased their price objective on shares of Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Wedbush cut their target price on Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday, May 17th. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Globant in a research report on Thursday, June 13th. Finally, Canaccord Genuity Group dropped their price objective on Globant from $230.00 to $175.00 and set a “hold” rating for the company in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Globant currently has an average rating of “Moderate Buy” and a consensus price target of $216.44.

Globant Stock Up 0.1 %

Globant stock traded up $0.24 during midday trading on Tuesday, reaching $176.53. The company’s stock had a trading volume of 387,556 shares, compared to its average volume of 512,508. The company has a market cap of $7.61 billion, a P/E ratio of 46.33, a P/E/G ratio of 1.84 and a beta of 1.41. The business has a 50-day simple moving average of $170.41 and a 200-day simple moving average of $202.51. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. As a group, equities analysts forecast that Globant S.A. will post 5 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.