JPMorgan Chase & Co. Grows Stock Position in Globant S.A. (NYSE:GLOB)

JPMorgan Chase & Co. boosted its stake in shares of Globant S.A. (NYSE:GLOB) by 8.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,572,080 shares of the information technology services provider’s stock after acquiring an additional 203,472 shares during the quarter. JPMorgan Chase & Co. owned 5.97% of Globant worth $551,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GLOB. Wasatch Advisors LP increased its position in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after acquiring an additional 88,829 shares during the period. Victory Capital Management Inc. raised its position in Globant by 6.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after purchasing an additional 96,257 shares during the last quarter. Jennison Associates LLC lifted its holdings in Globant by 0.6% in the 4th 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. grew its position in shares of Globant by 3.5% in the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock worth $129,252,000 after buying an additional 20,365 shares during the last quarter. Finally, abrdn plc increased its stake in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after buying an additional 126,333 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GLOB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Scotiabank decreased their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Redburn Atlantic upgraded 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 research report on Tuesday, February 25th. Finally, UBS Group decreased their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.71.

Globant Stock Down 6.3 %

Shares of NYSE GLOB opened at $118.48 on Friday. The company has a 50 day moving average of $174.61 and a 200 day moving average of $200.39. Globant S.A. has a twelve month low of $117.61 and a twelve month high of $238.32. The firm has a market cap of $5.22 billion, a P/E ratio of 31.85, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) 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. As a group, equities 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.