Oppenheimer Asset Management Inc. Purchases 2,300 Shares of Globant S.A. (NYSE:GLOB)

Oppenheimer Asset Management Inc. raised its position in Globant S.A. (NYSE:GLOB - Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,827 shares of the information technology services provider's stock after buying an additional 2,300 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.22% of Globant worth $18,789,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Equitable Trust Co. grew its holdings in 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 during the last quarter. 17 Capital Partners LLC lifted its position in Globant by 1.6% during the 2nd 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 period. ORG Partners LLC lifted 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 valued at $38,000 after acquiring an additional 76 shares during the period. Signaturefd LLC raised its holdings in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after buying an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Globant by 6.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider's stock worth $352,000 after buying an additional 118 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Up 0.7 %

Shares of NYSE GLOB traded up $1.58 during mid-day trading on Wednesday, reaching $236.80. The company had a trading volume of 650,857 shares, compared to its average volume of 478,877. The business's 50-day moving average is $207.49 and its 200-day moving average is $190.28. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 61.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.39. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to analysts' expectations of $586.72 million. During the same period in the prior year, the business earned $1.04 EPS. The firm's quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts forecast that Globant S.A. will post 5.06 earnings per share for the current year.

Analyst Ratings Changes

GLOB has been the subject of several research reports. Scotiabank boosted their price objective on shares of Globant from $200.00 to $210.00 and gave the company a "sector perform" rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research report on Thursday, August 22nd. They set a "hold" rating and a $210.00 target price for the company. Piper Sandler reiterated an "overweight" rating and issued a $240.00 price target (up from $238.00) on shares of Globant in a research report on Friday, August 16th. TD Cowen upped their target price on shares of Globant from $220.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $227.00.

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.