GQG Partners LLC Makes New Investment in Globant S.A. (NYSE:GLOB)

GQG Partners LLC acquired a new position in Globant S.A. (NYSE:GLOB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 395,979 shares of the information technology services provider's stock, valued at approximately $84,906,000. GQG Partners LLC owned approximately 0.92% of Globant as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GLOB. Centricity Wealth Management LLC purchased a new position in shares of Globant in the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC purchased a new position in Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB acquired a new stake in Globant during the 3rd quarter worth $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant during the fourth quarter worth about $45,000. Finally, Promus Capital LLC purchased a new position in Globant in the 4th quarter valued at approximately $64,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

NYSE:GLOB traded down $7.18 during trading hours on Friday, reaching $119.22. The company's stock had a trading volume of 615,576 shares, compared to its average volume of 557,004. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a one year low of $117.79 and a one year high of $238.32. The business's 50-day moving average is $176.51 and its 200-day moving average is $200.93.

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Globant (NYSE:GLOB - Get Free Report) last issued 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). The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GLOB shares. Jefferies Financial Group boosted their target price on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Piper Sandler reduced their price objective on Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Susquehanna started coverage on Globant in a research note on Tuesday, December 17th. They issued a "positive" rating and a $255.00 price target on the stock. Finally, Canaccord Genuity Group lowered their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $219.71.

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.