179 Shares in Globant S.A. (NYSE:GLOB) Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC acquired a new position in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, HoldingsChannel reports. The firm acquired 179 shares of the information technology services provider’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLOB. Creative Planning boosted its stake in Globant by 20.5% in the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after buying an additional 351 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Globant in the 3rd quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Globant by 18.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after buying an additional 8,427 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Globant by 121.3% in the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after buying an additional 16,639 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Globant by 32.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock worth $40,447,000 after buying an additional 49,597 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Globant stock opened at $152.02 on Friday. Globant S.A. has a one year low of $151.38 and a one year high of $238.32. The firm has a market capitalization of $6.55 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The stock’s 50 day moving average price is $214.07 and its 200 day moving average price is $210.61.

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

Analyst Ratings Changes

A number of brokerages have issued reports on GLOB. Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target on the stock. Scotiabank raised their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. UBS Group reduced their price objective on Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group lifted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler reduced their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.06.

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.