ING Groep NV Makes New Investment in Globant S.A. $GLOB

ING Groep NV purchased a new stake in Globant S.A. (NYSE:GLOB) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 150,880 shares of the information technology services provider’s stock, valued at approximately $8,657,000. ING Groep NV owned 0.34% of Globant at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Globant by 352.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 352 shares during the period. SJS Investment Consulting Inc. increased its stake in Globant by 27,766.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock valued at $48,000 after purchasing an additional 833 shares in the last quarter. CWM LLC increased its stake in Globant by 35.4% in the 3rd quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock valued at $49,000 after purchasing an additional 225 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Globant by 105.5% during the third quarter. Covestor Ltd now owns 1,005 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 516 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

GLOB has been the topic of several research reports. William Blair reissued an “outperform” rating on shares of Globant in a report on Wednesday, December 31st. Canaccord Genuity Group lowered their price objective on shares of Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 14th. Needham & Company LLC dropped their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. Wells Fargo & Company upped their price target on shares of Globant from $61.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Finally, UBS Group reiterated a “neutral” rating and issued a $75.00 price target on shares of Globant in a research report on Monday, January 19th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Globant currently has a consensus rating of “Hold” and a consensus target price of $97.75.

Globant Price Performance

Globant stock opened at $55.46 on Thursday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 25.10, a P/E/G ratio of 6.52 and a beta of 1.19. Globant S.A. has a 12-month low of $54.36 and a 12-month high of $228.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. The firm’s 50-day moving average is $66.49 and its two-hundred day moving average is $65.06.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.02). The firm had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. Equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.