Pier Capital LLC Acquires 23,178 Shares of Globant S.A. (NYSE:GLOB)

Pier Capital LLC raised its holdings in shares of Globant S.A. (NYSE:GLOB) by 42,922.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,232 shares of the information technology services provider’s stock after acquiring an additional 23,178 shares during the period. Pier Capital LLC owned approximately 0.05% of Globant worth $4,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC bought a new stake in shares of Globant during the 4th quarter valued at $29,000. BOKF NA raised its position in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Globant in the 2nd quarter valued at $31,000. Principal Securities Inc. bought a new stake in shares of Globant in the 4th quarter valued at $56,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Globant in the 1st quarter valued at $54,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on GLOB shares. Jefferies Financial Group upped their price objective on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Mizuho lowered their target price on Globant from $279.00 to $252.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Needham & Company LLC increased their target price on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, The Goldman Sachs Group started coverage on shares of Globant in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Stock Performance

GLOB opened at $198.68 on Wednesday. The stock has a fifty day moving average of $193.16 and a 200-day moving average of $188.21. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The company has a market capitalization of $8.56 billion, a P/E ratio of 52.15, a P/E/G ratio of 2.42 and a beta of 1.40.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. On average, equities research analysts predict that Globant S.A. will post 5.01 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.