Mirae Asset Global Investments Co. Ltd. Has $387,000 Stock Position in Globant S.A. $GLOB

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Globant S.A. (NYSE:GLOB) by 81.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,260 shares of the information technology services provider’s stock after selling 18,233 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Globant were worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock worth $46,000 after buying an additional 89 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Globant by 23.6% during the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider’s stock worth $71,000 after buying an additional 116 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock worth $31,000 after buying an additional 155 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Globant by 53.1% during the 1st quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock worth $58,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 3.3%

NYSE GLOB opened at $57.52 on Friday. The business’s 50-day moving average price is $64.38 and its two-hundred day moving average price is $89.34. Globant S.A. has a 12 month low of $54.36 and a 12 month high of $238.32. The firm has a market capitalization of $2.53 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the prior year, the company earned $1.51 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Globant announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 1st that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Needham & Company LLC lowered their price target on Globant from $115.00 to $85.00 and set a “buy” rating for the company in a report on Friday, August 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a report on Wednesday. The Goldman Sachs Group lowered their target price on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $97.00 target price (down previously from $165.00) on shares of Globant in a report on Thursday, June 26th. Finally, Scotiabank raised Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 target price for the company in a report on Monday, July 21st. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $138.47.

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.