Townsquare Capital LLC Grows Holdings in Globant S.A. (NYSE:GLOB)

Townsquare Capital LLC raised its holdings in shares of Globant S.A. (NYSE:GLOB) by 34.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,884 shares of the information technology services provider’s stock after purchasing an additional 2,006 shares during the quarter. Townsquare Capital LLC’s holdings in Globant were worth $1,690,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Piper Sandler decreased their price objective on Globant from $230.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Jefferies Financial Group raised their target price on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and upped their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.94.

Globant Price Performance

Globant stock opened at $106.59 on Thursday. Globant S.A. has a 1-year low of $96.23 and a 1-year high of $238.32. The business has a fifty day moving average price of $143.65 and a 200-day moving average price of $191.26. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 2.38 and a beta of 1.50.

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

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.