Icon Advisers Inc. Co. Has $3.32 Million Holdings in Globant S.A. (NYSE:GLOB)

Icon Advisers Inc. Co. grew its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,485 shares of the information technology services provider's stock after purchasing an additional 3,585 shares during the quarter. Icon Advisers Inc. Co.'s holdings in Globant were worth $3,320,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

GLOB has been the topic of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. Canaccord Genuity Group reduced their price target on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. Susquehanna lowered their price objective on shares of Globant from $255.00 to $225.00 and set a "positive" rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced their target price on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One 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 stock. According to MarketBeat, Globant presently has an average rating of "Moderate Buy" and a consensus target price of $209.94.

Globant Trading Down 0.8 %

Globant stock traded down $0.90 during trading hours on Friday, reaching $105.69. 401,366 shares of the company were exchanged, compared to its average volume of 595,817. Globant S.A. has a 12 month low of $96.23 and a 12 month high of $238.32. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.38 and a beta of 1.50. The stock has a 50-day moving average of $139.24 and a 200 day moving average of $190.00.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, research analysts forecast that Globant S.A. will post 5.73 EPS 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.