Globant S.A. $GLOB Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its position in shares of Globant S.A. (NYSE:GLOB) by 141.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,809 shares of the information technology services provider’s stock after acquiring an additional 20,376 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Globant were worth $3,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in shares of Globant by 6.2% in the first quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider’s stock valued at $200,709,000 after purchasing an additional 98,863 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Globant by 293.5% in the first quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock valued at $117,716,000 after purchasing an additional 745,848 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Globant by 764.3% in the first quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider’s stock valued at $111,271,000 after purchasing an additional 835,859 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Globant by 209.0% in the first quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider’s stock valued at $96,583,000 after purchasing an additional 554,938 shares during the last quarter. Finally, Polen Capital Management LLC increased its holdings in shares of Globant by 22.0% in the first quarter. Polen Capital Management LLC now owns 774,418 shares of the information technology services provider’s stock valued at $91,164,000 after purchasing an additional 139,894 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GLOB shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a report on Wednesday, October 8th. The Goldman Sachs Group cut their price target on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. UBS Group cut their price target on Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Needham & Company LLC lowered their price objective on Globant from $115.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Finally, Scotiabank upgraded Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a research report on Monday, July 21st. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Globant presently has a consensus rating of “Hold” and a consensus target price of $122.13.

Globant Trading Down 2.2%

Shares of Globant stock opened at $59.45 on Thursday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 24.17, a PEG ratio of 5.78 and a beta of 1.17. Globant S.A. has a fifty-two week low of $54.36 and a fifty-two week high of $238.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a 50 day moving average of $60.41 and a 200 day moving average of $84.36.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.01. The company had revenue of $614.18 million during the quarter, compared to analyst estimates of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, research analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Globant declared that its board has approved a stock repurchase program on Wednesday, October 1st that permits the company to buyback $125.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.