Globant S.A. (NYSE:GLOB) Shares Bought by Xponance Inc.

Xponance Inc. lifted its holdings in shares of Globant S.A. (NYSE:GLOB) by 6.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,720 shares of the information technology services provider’s stock after acquiring an additional 303 shares during the period. Xponance Inc.’s holdings in Globant were worth $1,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in shares of Globant during the fourth quarter worth about $16,737,000. Cullen Frost Bankers Inc. grew its holdings in Globant by 5.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after acquiring an additional 2,505 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Globant during the 3rd quarter worth $11,145,000. NS Partners Ltd purchased a new stake in Globant during the fourth quarter worth about $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Globant by 18.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after buying an additional 8,427 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GLOB shares. UBS Group lowered their target price on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Scotiabank dropped their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price on the stock. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and lifted their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $219.71.

Globant Stock Performance

GLOB opened at $130.75 on Monday. The company has a market capitalization of $5.76 billion, a P/E ratio of 35.15, a PEG ratio of 2.38 and a beta of 1.47. The company has a 50-day moving average of $183.20 and a 200-day moving average of $202.92. Globant S.A. has a 1-year low of $124.53 and a 1-year high of $238.32.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to analyst estimates 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.

About Globant

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.