NS Partners Ltd Takes Position in Globant S.A. (NYSE:GLOB)

NS Partners Ltd purchased a new stake in Globant S.A. (NYSE:GLOB) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 88,300 shares of the information technology services provider’s stock, valued at approximately $18,933,000.

A number of other institutional investors also recently modified their holdings of GLOB. Equitable Trust Co. increased its position in shares of Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after acquiring an additional 50 shares during the last quarter. M&T Bank Corp increased its position in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the last quarter. Franklin Resources Inc. increased its position in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after buying an additional 71 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Globant by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock worth $1,032,000 after buying an additional 118 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Globant by 3.3% during the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after buying an additional 122 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

NYSE GLOB opened at $140.31 on Friday. The business has a fifty day moving average price of $199.61 and a two-hundred day moving average price of $207.64. Globant S.A. has a fifty-two week low of $138.24 and a fifty-two week high of $238.32. The stock has a market capitalization of $6.05 billion, a PE ratio of 37.72, a PEG ratio of 2.38 and a beta of 1.39.

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

Analysts Set New Price Targets

GLOB has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Susquehanna assumed coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Piper Sandler decreased their target price on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. UBS Group decreased their target price on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $221.39.

Globant 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.