NS Partners Ltd Acquires Shares of 88,300 Globant S.A. (NYSE:GLOB)

NS Partners Ltd bought a new stake in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 88,300 shares of the information technology services provider’s stock, valued at approximately $18,933,000. NS Partners Ltd owned approximately 0.20% of Globant at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLOB. Centricity Wealth Management LLC purchased a new position in shares of Globant during the fourth quarter worth $38,000. Kestra Investment Management LLC acquired a new stake in shares of Globant in the fourth quarter valued at about $38,000. Wilmington Savings Fund Society FSB purchased a new position in Globant in the 3rd quarter worth approximately $40,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant in the 4th quarter valued at approximately $45,000. Finally, Promus Capital LLC purchased a new stake in shares of Globant in the 4th quarter valued at approximately $64,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Price Performance

Globant stock opened at $140.31 on Friday. The company has a market capitalization of $6.05 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. Globant S.A. has a one year low of $138.24 and a one year high of $238.32. The business has a 50 day simple moving average of $199.61 and a 200 day simple moving average of $207.64.

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 the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLOB has been the topic of a number of research reports. Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Scotiabank dropped their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC dropped their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

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.