Price T Rowe Associates Inc. MD lessened its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,434,654 shares of the information technology services provider's stock after selling 515,386 shares during the quarter. Price T Rowe Associates Inc. MD owned about 10.29% of Globant worth $950,880,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in GLOB. Centricity Wealth Management LLC purchased a new position in Globant in the fourth quarter worth about $38,000. Kestra Investment Management LLC purchased a new position in shares of Globant in the 4th quarter worth approximately $38,000. Wilmington Savings Fund Society FSB bought a new position in shares of Globant during the 3rd quarter valued at approximately $40,000. Van Berkom & Associates Inc. bought a new position in shares of Globant during the 4th quarter valued at approximately $45,000. Finally, Promus Capital LLC purchased a new stake in Globant during the 4th quarter valued at $64,000. Institutional investors own 91.60% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on GLOB shares. Susquehanna cut their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday. Canaccord Genuity Group dropped their price target on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. Jefferies Financial Group increased their price objective 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. Needham & Company LLC restated a "buy" rating and set a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Finally, Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and increased their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Globant currently has an average rating of "Moderate Buy" and an average target price of $205.88.
Read Our Latest Stock Analysis on Globant
Globant Stock Up 0.5 %
NYSE:GLOB traded up $0.65 during mid-day trading on Friday, reaching $119.00. The company's stock had a trading volume of 688,782 shares, compared to its average volume of 606,808. The firm has a market capitalization of $5.24 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The stock has a fifty day moving average of $128.05 and a 200-day moving average of $186.81. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32.
Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.
About Globant
(
Free Report)
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.
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