MGO One Seven LLC lessened its stake in shares of Globant S.A. (NYSE:GLOB – Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,982 shares of the information technology services provider’s stock after selling 101 shares during the quarter. MGO One Seven LLC’s holdings in Globant were worth $325,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC increased its stake in Globant by 5.2% in the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock valued at $336,000 after buying an additional 63 shares during the last quarter. Amalgamated Bank increased its stake in Globant by 0.7% in the 4th quarter. Amalgamated Bank now owns 9,372 shares of the information technology services provider’s stock valued at $1,576,000 after buying an additional 68 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Globant by 10.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 769 shares of the information technology services provider’s stock valued at $202,000 after buying an additional 73 shares during the last quarter. CreativeOne Wealth LLC increased its stake in Globant by 2.8% in the 4th quarter. CreativeOne Wealth LLC now owns 2,786 shares of the information technology services provider’s stock valued at $468,000 after buying an additional 77 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Globant by 22.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 85 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.
Analysts Set New Price Targets
GLOB has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $205.00 price target on shares of Globant in a research note on Monday, July 24th. Piper Sandler restated an “overweight” rating and set a $207.00 price target on shares of Globant in a research note on Tuesday, August 8th. HSBC raised their price target on shares of Globant from $235.00 to $240.00 in a research note on Monday, July 17th. KeyCorp raised their price objective on shares of Globant from $201.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. Finally, StockNews.com started coverage on shares of Globant in a report on Thursday, May 18th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $219.40.
Globant Price Performance
Shares of NYSE:GLOB opened at $171.11 on Wednesday. The firm has a fifty day moving average price of $179.69 and a two-hundred day moving average price of $167.28. Globant S.A. has a one year low of $135.40 and a one year high of $239.91. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 49.45 and a beta of 1.36.
Globant (NYSE:GLOB – Get Free Report) last announced its earnings results on Thursday, May 18th. The information technology services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.02). Globant had a return on equity of 11.65% and a net margin of 8.03%. The company had revenue of $472.42 million during the quarter, compared to analysts’ expectations of $472.14 million. Equities research analysts expect that Globant S.A. will post 4.68 EPS for the current fiscal year.
About Globant
Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
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