Globant S.A. (NYSE:GLOB) is Martin Currie Ltd.'s 9th Largest Position

Martin Currie Ltd. cut its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 397,309 shares of the information technology services provider's stock after selling 9,647 shares during the quarter. Globant accounts for about 3.1% of Martin Currie Ltd.'s portfolio, making the stock its 9th largest holding. Martin Currie Ltd. owned about 0.92% of Globant worth $85,191,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on GLOB shares. Piper Sandler lowered their price target on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. StockNews.com cut Globant from a "hold" rating to a "sell" rating in a research report on Saturday. JPMorgan Chase & Co. cut their price target on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. UBS Group lowered their price target on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Globant currently has a consensus rating of "Moderate Buy" and a consensus price target of $219.71.

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Globant Stock Performance

Shares of GLOB stock traded down $1.92 during trading hours on Tuesday, reaching $115.80. The company had a trading volume of 779,331 shares, compared to its average volume of 560,786. Globant S.A. has a 12-month low of $112.58 and a 12-month high of $238.32. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 2.38 and a beta of 1.47. The stock has a fifty day moving average of $172.69 and a 200-day moving average of $199.83.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm 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, 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.