Vanguard Group Inc. Grows Stock Holdings in Globant S.A. (NYSE:GLOB)

Vanguard Group Inc. raised its position in Globant S.A. (NYSE:GLOB - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,147 shares of the information technology services provider's stock after purchasing an additional 2,744 shares during the period. Vanguard Group Inc. owned 0.27% of Globant worth $24,690,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GLOB. JPMorgan Chase & Co. lifted its holdings in shares of Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock worth $469,316,000 after acquiring an additional 153,385 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock worth $344,382,000 after purchasing an additional 96,257 shares in the last quarter. Jennison Associates LLC lifted its holdings in Globant by 0.6% in the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider's stock worth $172,082,000 after buying an additional 4,970 shares during the period. Sei Investments Co. boosted its position in shares of Globant by 3.5% during the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock valued at $129,252,000 after purchasing an additional 20,365 shares in the last quarter. Finally, abrdn plc grew its position in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after buying an additional 126,333 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler lowered their price target on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday. 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. Canaccord Genuity Group decreased their price target on shares of Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group boosted their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Finally, UBS Group lowered their target price on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and a consensus target price of $209.94.

Globant Stock Performance

GLOB traded down $0.90 during trading on Friday, reaching $105.69. 401,366 shares of the company traded hands, compared to its average volume of 595,228. The company has a market cap of $4.65 billion, a P/E ratio of 28.41, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The firm has a fifty day simple moving average of $141.44 and a 200 day simple moving average of $190.63.

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 for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.