Jupiter Asset Management Ltd. Grows Position in Globant S.A. (NYSE:GLOB)

Jupiter Asset Management Ltd. lifted its stake in Globant S.A. (NYSE:GLOB) by 1.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 69,483 shares of the information technology services provider’s stock after buying an additional 780 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Globant were worth $14,899,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GLOB. JPMorgan Chase & Co. lifted its holdings in shares of Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after buying an additional 153,385 shares in the last quarter. abrdn plc lifted its holdings in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after buying an additional 126,333 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after buying an additional 96,257 shares in the last quarter. Principal Financial Group Inc. increased its position in Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock worth $27,060,000 after purchasing an additional 95,848 shares during the last quarter. Finally, Wasatch Advisors LP increased its position in 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 worth $689,553,000 after purchasing an additional 88,829 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Down 1.8 %

GLOB stock opened at $132.37 on Thursday. The firm’s fifty day simple moving average is $194.67 and its two-hundred day simple moving average is $206.20. The stock has a market capitalization of $5.83 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a twelve month low of $130.06 and a twelve month high of $238.32.

Globant (NYSE:GLOB) last posted its quarterly earnings results 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 company had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. As a group, equities research analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Jefferies Financial Group boosted their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Globant in a research report on Wednesday. UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $221.39.

Globant Company 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.