Centricity Wealth Management LLC Makes New Investment in Globant S.A. (NYSE:GLOB)

Centricity Wealth Management LLC purchased a new position in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, HoldingsChannel reports. The firm purchased 176 shares of the information technology services provider’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GLOB. Kestra Investment Management LLC acquired a new position in Globant during the fourth quarter worth $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant during the 3rd quarter worth about $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant during the 4th quarter valued at about $45,000. Signaturefd LLC raised its stake in shares of Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Globant by 62.4% in the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GLOB shares. Susquehanna assumed coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Piper Sandler lowered their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday. Needham & Company LLC cut their target price on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 price target on shares of Globant in a research report on Monday, November 18th. Finally, JPMorgan Chase & Co. cut their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $227.06.

Globant Price Performance

Shares of GLOB stock opened at $152.02 on Friday. Globant S.A. has a one year low of $151.38 and a one year high of $238.32. The stock has a fifty day moving average price of $215.37 and a 200 day moving average price of $210.82. The stock has a market cap of $6.55 billion, a P/E ratio of 39.69, a price-to-earnings-growth ratio of 2.46 and a beta of 1.39.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.65% and a net margin of 7.20%. Equities research analysts anticipate that Globant S.A. will post 4.98 EPS for the current 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.