Envestnet Asset Management Inc. Acquires 8,239 Shares of Globant S.A. (NYSE:GLOB)

Envestnet Asset Management Inc. increased its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 273,205 shares of the information technology services provider's stock after purchasing an additional 8,239 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.63% of Globant worth $58,581,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target 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 Globant from $240.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Canaccord Genuity Group decreased their price target on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. StockNews.com lowered Globant from a "hold" rating to a "sell" rating in a report on Monday. Finally, Scotiabank reduced their target price on Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Globant currently has a consensus rating of "Moderate Buy" and an average target price of $214.69.

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Globant Trading Up 1.7 %

NYSE:GLOB traded up $1.79 during trading hours on Tuesday, hitting $109.81. 126,771 shares of the company traded hands, compared to its average volume of 590,805. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 2.38 and a beta of 1.50. The firm has a 50-day moving average of $148.05 and a 200 day moving average of $192.43. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Equities research analysts predict 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.