Janney Montgomery Scott LLC Acquires 1,573 Shares of Globant S.A. (NYSE:GLOB)

Janney Montgomery Scott LLC boosted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 10.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,260 shares of the information technology services provider's stock after buying an additional 1,573 shares during the period. Janney Montgomery Scott LLC's holdings in Globant were worth $3,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Equitable Trust Co. raised its position in shares of Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock worth $902,000 after acquiring an additional 50 shares in the last quarter. M&T Bank Corp lifted its position in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock valued at $326,000 after buying an additional 60 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after buying an additional 71 shares in the last quarter. ORG Partners LLC grew its position in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after buying an additional 76 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 92 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective on the stock. TD Cowen boosted their price target on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Jefferies Financial Group raised their price objective on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Needham & Company LLC reissued a "buy" rating and issued a $265.00 target price on shares of Globant in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price target on Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $230.28.

Globant Price Performance

Globant stock traded down $1.57 during midday trading on Monday, reaching $211.76. 645,978 shares of the company traded hands, compared to its average volume of 438,428. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $248.94. The business has a 50 day moving average of $217.57 and a two-hundred day moving average of $208.64. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 55.30, a price-to-earnings-growth ratio of 2.33 and a beta of 1.39.

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.