Globant S.A. (NYSE:GLOB) Shares Purchased by LGT Group Foundation

LGT Group Foundation lifted its position in Globant S.A. (NYSE:GLOB) by 26.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,352 shares of the information technology services provider’s stock after acquiring an additional 1,968 shares during the quarter. LGT Group Foundation’s holdings in Globant were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GLOB. Vanguard Group Inc. lifted its stake in shares of Globant by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 115,147 shares of the information technology services provider’s stock valued at $24,690,000 after purchasing an additional 2,744 shares during the period. Wells Fargo & Company MN lifted its holdings in Globant by 55.3% during the fourth quarter. Wells Fargo & Company MN now owns 63,672 shares of the information technology services provider’s stock valued at $13,652,000 after purchasing an additional 22,671 shares in the last quarter. FMR LLC increased its stake in shares of Globant by 17.4% during the fourth quarter. FMR LLC now owns 554,086 shares of the information technology services provider’s stock worth $118,807,000 after purchasing an additional 82,309 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Globant by 15.4% during the fourth quarter. Bank of Montreal Can now owns 24,974 shares of the information technology services provider’s stock worth $5,355,000 after purchasing an additional 3,332 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Globant by 90.5% during the 4th quarter. Invesco Ltd. now owns 109,356 shares of the information technology services provider’s stock worth $23,448,000 after purchasing an additional 51,945 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Up 1.4%

Shares of GLOB opened at $75.64 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. Globant S.A. has a 12-month low of $73.98 and a 12-month high of $238.32. The firm has a 50-day moving average price of $89.07 and a 200 day moving average price of $122.18. The firm has a market capitalization of $3.33 billion, a P/E ratio of 22.38, a P/E/G ratio of 3.07 and a beta of 1.16.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The firm had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same period in the prior year, the company posted $1.53 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analyst Ratings Changes

GLOB has been the subject of several research analyst reports. The Goldman Sachs Group downgraded shares of Globant from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $225.00 to $120.00 in a research report on Friday, May 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, July 17th. They set a “hold” rating and a $87.00 price target for the company. Needham & Company LLC reduced their price target on shares of Globant from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Guggenheim restated a “buy” rating and set a $125.00 price target on shares of Globant in a research report on Tuesday, June 10th. Finally, Mizuho set a $153.00 price target on shares of Globant and gave the stock an “outperform” rating in a research report on Monday, May 19th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and an average price target of $165.69.

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.