EverSource Wealth Advisors LLC Increases Position in Globant S.A. (NYSE:GLOB)

EverSource Wealth Advisors LLC increased its stake in Globant S.A. (NYSE:GLOB) by 3,513.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 831 shares of the information technology services provider’s stock after acquiring an additional 808 shares during the period. EverSource Wealth Advisors LLC’s holdings in Globant were worth $178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp grew its position in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after acquiring an additional 60 shares in the last quarter. Franklin Resources Inc. grew its position in Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after acquiring an additional 71 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Globant by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock worth $1,032,000 after acquiring an additional 118 shares in the last quarter. National Bank of Canada FI grew its position in Globant by 3.3% in the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after acquiring an additional 122 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Globant by 21.9% during the fourth quarter. GAMMA Investing LLC now owns 967 shares of the information technology services provider’s stock valued at $207,000 after buying an additional 174 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and upped their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Piper Sandler cut their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Canaccord Genuity Group cut their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Globant currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

Globant Price Performance

GLOB stock opened at $134.43 on Monday. Globant S.A. has a 1 year low of $128.76 and a 1 year high of $238.32. The company has a market cap of $5.92 billion, a P/E ratio of 36.14, a PEG ratio of 2.38 and a beta of 1.47. The firm has a 50-day moving average of $191.29 and a 200 day moving average of $205.27.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. On average, equities research analysts expect that Globant S.A. will post 5.73 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.