Globant S.A. (NYSE:GLOB) Position Increased by Investidor Profissional Gestao de Recursos Ltda.

Investidor Profissional Gestao de Recursos Ltda. increased its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 109.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,595 shares of the information technology services provider's stock after buying an additional 20,725 shares during the period. Globant comprises 3.7% of Investidor Profissional Gestao de Recursos Ltda.'s portfolio, making the stock its 8th largest holding. Investidor Profissional Gestao de Recursos Ltda. owned 0.09% of Globant worth $7,845,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GLOB. Equitable Trust Co. lifted its holdings in shares of Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock valued at $902,000 after purchasing an additional 50 shares in the last quarter. 17 Capital Partners LLC boosted its stake in shares of Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider's stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. ORG Partners LLC increased its position in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Signaturefd LLC raised its stake in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Globant by 6.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider's stock valued at $352,000 after purchasing an additional 118 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GLOB shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday, August 22nd. They set a "hold" rating and a $210.00 price objective on the stock. Citigroup upped their target price on Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Canaccord Genuity Group restated a "hold" rating and issued a $205.00 price target on shares of Globant in a report on Monday. JPMorgan Chase & Co. upped their price objective on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, Scotiabank raised their target price on shares of Globant from $200.00 to $210.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $228.50.

Globant Stock Down 0.9 %

Shares of NYSE GLOB traded down $1.80 on Monday, hitting $201.49. The company had a trading volume of 538,771 shares, compared to its average volume of 483,916. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The firm has a market capitalization of $8.68 billion, a P/E ratio of 53.08, a PEG ratio of 2.49 and a beta of 1.39. The business has a 50 day moving average of $208.98 and a two-hundred day moving average of $191.19.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to analysts' expectations of $586.72 million. Globant had a return on equity of 11.87% and a net margin of 7.20%. Globant's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. On average, sell-side analysts anticipate that Globant S.A. will post 5.06 earnings per share for the current 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.