2,250 Shares in Globant S.A. (NYSE:GLOB) Bought by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC acquired a new stake in Globant S.A. (NYSE:GLOB) during the first quarter, according to its most recent filing with the SEC. The firm acquired 2,250 shares of the information technology services provider’s stock, valued at approximately $265,000.

Several other institutional investors also recently bought and sold shares of GLOB. Blue Trust Inc. boosted its holdings in shares of Globant by 4,810.0% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider’s stock valued at $105,000 after acquiring an additional 481 shares in the last quarter. Principal Financial Group Inc. lifted its position in Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after purchasing an additional 95,848 shares during the period. Truist Financial Corp boosted its holdings in Globant by 2.6% in the 4th quarter. Truist Financial Corp now owns 21,703 shares of the information technology services provider’s stock valued at $4,654,000 after purchasing an additional 557 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Globant during the 4th quarter worth approximately $38,000. Finally, Flossbach Von Storch SE increased its position in Globant by 6.1% during the 4th quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider’s stock worth $3,752,000 after purchasing an additional 1,000 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on GLOB. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and raised their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Susquehanna decreased their target price on shares of Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group cut shares of Globant from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $225.00 to $120.00 in a research note on Friday, May 16th. Finally, Needham & Company LLC cut their price target on shares of Globant from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $179.19.

Globant Stock Performance

NYSE:GLOB opened at $88.07 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.88 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.70 and a beta of 1.24. The firm has a 50-day moving average price of $108.55 and a two-hundred day moving average price of $156.96. Globant S.A. has a twelve month low of $88.00 and a twelve month high of $238.32.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The business had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same quarter in the prior year, the company earned $1.53 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

About Globant

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.