LGT Group Foundation Invests $1.58 Million in Globant S.A. (NYSE:GLOB)

LGT Group Foundation purchased a new position in Globant S.A. (NYSE:GLOB) during the fourth quarter, HoldingsChannel reports. The firm purchased 7,384 shares of the information technology services provider’s stock, valued at approximately $1,583,000.

A number of other hedge funds have also recently made changes to their positions in the stock. GW&K Investment Management LLC grew its holdings in shares of Globant by 0.4% in the fourth quarter. GW&K Investment Management LLC now owns 371,595 shares of the information technology services provider’s stock worth $79,678,000 after purchasing an additional 1,645 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in Globant in the fourth quarter worth about $38,000. Van Berkom & Associates Inc. purchased a new stake in Globant in the fourth quarter worth about $45,000. Flossbach Von Storch SE lifted its stake in Globant by 6.1% in the fourth quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider’s stock worth $3,752,000 after acquiring an additional 1,000 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in Globant in the fourth quarter worth about $38,000. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GLOB. Susquehanna began coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. Canaccord Genuity Group lowered their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Piper Sandler lowered their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, UBS Group lowered their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Stock Down 4.7 %

GLOB stock opened at $143.47 on Tuesday. The firm has a 50 day moving average of $205.65 and a 200 day moving average of $209.38. The stock has a market capitalization of $6.18 billion, a PE ratio of 38.57, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. Globant S.A. has a 52 week low of $143.06 and a 52 week high of $238.32.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

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.