Globant S.A. (NYSE:GLOB) Stock Position Lessened by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in Globant S.A. (NYSE:GLOB) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,658 shares of the information technology services provider’s stock after selling 2,169 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.22% of Globant worth $19,868,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of GLOB. Equitable Trust Co. boosted its stake in Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares in the last quarter. M&T Bank Corp boosted its stake in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. boosted its stake in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after buying an additional 71 shares in the last quarter. Signaturefd LLC boosted its stake in Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Globant by 3.3% in the 3rd quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock valued at $756,000 after purchasing an additional 122 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 1.9 %

Shares of GLOB stock opened at $153.01 on Thursday. Globant S.A. has a 12 month low of $151.38 and a 12 month high of $238.32. The business’s 50 day moving average is $210.10 and its two-hundred day moving average is $210.14. The company has a market cap of $6.59 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its quarterly 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). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. As a group, equities analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on GLOB. Jefferies Financial Group upped their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler reduced 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. Susquehanna began coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. Canaccord Genuity Group reduced 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. Finally, Needham & Company LLC reduced their price objective on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Company 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.