Globant S.A. (NYSE:GLOB) Shares Purchased by Fmr LLC

FMR LLC lifted its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 554,086 shares of the information technology services provider's stock after buying an additional 82,309 shares during the quarter. FMR LLC owned about 1.29% of Globant worth $118,807,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GLOB. Centricity Wealth Management LLC acquired a new position in Globant in the fourth quarter valued at $38,000. Kestra Investment Management LLC acquired a new stake in Globant during the 4th quarter worth approximately $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the third quarter valued at approximately $40,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant during the fourth quarter worth approximately $45,000. Finally, Promus Capital LLC acquired a new stake in shares of Globant during the fourth quarter worth $64,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Needham & Company LLC restated a "buy" rating and issued a $220.00 price objective on shares of Globant in a research report on Wednesday, March 12th. Susquehanna lowered their price objective on Globant from $255.00 to $225.00 and set a "positive" rating on the stock in a report on Tuesday, April 8th. UBS Group cut their target price on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Globant has an average rating of "Moderate Buy" and an average target price of $209.94.

Globant Stock Down 0.8 %

Shares of GLOB traded down $0.90 on Friday, hitting $105.69. 401,366 shares of the stock traded hands, compared to its average volume of 595,817. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32. The stock's 50 day moving average is $139.24 and its two-hundred day moving average is $190.00. The firm has a market capitalization of $4.65 billion, a P/E ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Research analysts forecast 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.