Granahan Investment Management LLC Has $41.81 Million Stake in Globant S.A. (NYSE:GLOB)

Granahan Investment Management LLC lifted its stake in Globant S.A. (NYSE:GLOB) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,980 shares of the information technology services provider’s stock after purchasing an additional 583 shares during the period. Globant accounts for 1.7% of Granahan Investment Management LLC’s portfolio, making the stock its 14th largest position. Granahan Investment Management LLC’s holdings in Globant were worth $41,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. Centricity Wealth Management LLC acquired a new stake in shares of Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC bought a new position in Globant in the fourth quarter valued at about $38,000. Wilmington Savings Fund Society FSB acquired a new stake in Globant in the third quarter worth about $40,000. Van Berkom & Associates Inc. bought a new stake in Globant during the 4th quarter worth about $45,000. Finally, Promus Capital LLC acquired a new position in Globant during the 4th quarter valued at about $64,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several analyst reports. Canaccord Genuity Group lowered their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. UBS Group lowered their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Piper Sandler cut their price target on Globant from $230.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Saturday, May 3rd. Finally, JPMorgan Chase & Co. cut their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $204.00.

Globant Stock Down 1.1 %

Shares of GLOB stock opened at $128.83 on Friday. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The firm has a fifty day moving average of $119.65 and a 200-day moving average of $180.50. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 34.63, a P/E/G ratio of 2.38 and a beta of 1.37.

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

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.