Globant S.A. (NYSE:GLOB) Stake Raised by Investidor Profissional Gestao de Recursos Ltda.

Investidor Profissional Gestao de Recursos Ltda. raised its stake in shares of Globant S.A. (NYSE:GLOB) by 109.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,595 shares of the information technology services provider’s stock after buying an additional 20,725 shares during the quarter. Globant comprises about 3.7% of Investidor Profissional Gestao de Recursos Ltda.’s investment portfolio, making the stock its 8th biggest position. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Globant were worth $7,845,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. TrinityPoint Wealth LLC purchased a new stake in shares of Globant during the third quarter worth about $208,000. Natixis Advisors LLC raised its holdings in Globant by 30.4% in the 3rd quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock valued at $2,669,000 after acquiring an additional 3,142 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Globant by 26.1% during the 3rd quarter. Impax Asset Management Group plc now owns 8,269 shares of the information technology services provider’s stock worth $1,638,000 after purchasing an additional 1,711 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Globant by 18.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 6,334 shares of the information technology services provider’s stock worth $1,255,000 after purchasing an additional 965 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Globant by 2.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 94,827 shares of the information technology services provider’s stock valued at $18,789,000 after purchasing an additional 2,300 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Shares of GLOB stock opened at $203.29 on Monday. The company’s fifty day moving average price is $208.98 and its two-hundred day moving average price is $191.09. The firm has a market capitalization of $8.76 billion, a P/E ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.87% and a net margin of 7.20%. The firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the prior year, the business posted $1.04 earnings per share. Globant’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Globant S.A. will post 5.06 EPS for the current year.

Analyst Ratings Changes

GLOB has been the topic of a number of research analyst reports. UBS Group reissued a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Needham & Company LLC raised their target price on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler decreased their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday. Finally, KeyCorp upped their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

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.