JB Capital LLC Invests $3.80 Million in Globant S.A. $GLOB

JB Capital LLC acquired a new position in Globant S.A. (NYSE:GLOB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 66,173 shares of the information technology services provider’s stock, valued at approximately $3,797,000.

Several other large investors have also recently made changes to their positions in GLOB. Invesco Ltd. boosted its position in Globant by 199.1% during the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock worth $256,819,000 after acquiring an additional 1,881,940 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Globant by 6,875.8% during the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock worth $84,413,000 after buying an additional 915,924 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Globant by 293.5% in the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock worth $117,716,000 after acquiring an additional 745,848 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Globant by 218.8% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 432,602 shares of the information technology services provider’s stock valued at $39,298,000 after acquiring an additional 296,888 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Globant by 34.1% during the second quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock worth $99,972,000 after purchasing an additional 280,081 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Performance

NYSE GLOB opened at $66.43 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $64.11 and its two-hundred day moving average is $70.08. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 6.37 and a beta of 1.24. Globant S.A. has a 12-month low of $54.36 and a 12-month high of $228.98.

Globant (NYSE:GLOB) last released its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The business had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. Globant’s revenue was up .4% compared to the same quarter last year. During the same period last year, the business posted $1.63 EPS. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Research analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Globant announced that its Board of Directors has approved a share buyback plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GLOB shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a research report on Monday. Canaccord Genuity Group decreased their price target on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 14th. Citigroup raised Globant to a “hold” rating in a research note on Thursday, October 23rd. Jefferies Financial Group cut Globant from a “buy” rating to a “hold” rating and reduced their price objective for the company from $80.00 to $61.00 in a research note on Thursday, November 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $70.00 price objective on shares of Globant in a report on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Globant currently has a consensus rating of “Hold” and an average price target of $98.67.

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.