Promus Capital LLC Makes New Investment in Globant S.A. (NYSE:GLOB)

Promus Capital LLC acquired a new stake in shares of Globant S.A. (NYSE:GLOB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 298 shares of the information technology services provider’s stock, valued at approximately $64,000.

A number of other institutional investors also recently made changes to their positions in GLOB. Victory Capital Management Inc. grew its holdings in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after buying an additional 1,431,112 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Globant by 6.9% during 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 in the last quarter. abrdn plc boosted its stake in shares of Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after acquiring an additional 126,333 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Globant by 315.8% during the 4th quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock worth $27,060,000 after acquiring an additional 95,848 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after purchasing an additional 88,829 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on GLOB shares. UBS Group cut their price target on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC decreased their price target on Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and increased their price target for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Finally, TD Cowen lifted their price target on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $221.39.

Globant Price Performance

NYSE:GLOB opened at $147.07 on Thursday. The company’s 50-day simple moving average is $202.74 and its 200 day simple moving average is $208.54. The firm has a market capitalization of $6.34 billion, a P/E ratio of 39.53, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a one year low of $140.88 and a one 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 analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. 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.