Zions Bancorporation N.A. Increases Position in Globant S.A. (NYSE:GLOB)

Zions Bancorporation N.A. lifted its position in Globant S.A. (NYSE:GLOB) by 18.0% in the third quarter, HoldingsChannel.com reports. The firm owned 6,334 shares of the information technology services provider’s stock after purchasing an additional 965 shares during the quarter. Zions Bancorporation N.A.’s holdings in Globant were worth $1,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its stake in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant in the second quarter worth $31,000. BOKF NA increased its stake in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares in the last quarter. ORG Partners LLC increased its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Finally, American National Bank & Trust increased its stake in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLOB has been the subject of several research analyst reports. UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 target price (up from $238.00) on shares of Globant in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. Finally, KeyCorp raised their target price on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

Globant Trading Down 3.5 %

Globant stock opened at $228.52 on Friday. The firm has a 50-day moving average price of $208.23 and a 200-day moving average price of $190.61. The firm has a market capitalization of $9.85 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 2.91 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $586.72 million. During the same quarter last year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Globant S.A. will post 5.06 earnings per share for the current fiscal year.

Globant 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.