Globant S.A. (NYSE:GLOB) Stake Reduced by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its holdings in shares of Globant S.A. (NYSE:GLOB) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,864 shares of the information technology services provider’s stock after selling 1,757 shares during the period. Loomis Sayles & Co. L P owned approximately 0.09% of Globant worth $8,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Centricity Wealth Management LLC bought a new stake in Globant during the fourth quarter worth approximately $38,000. Kestra Investment Management LLC bought a new stake in shares of Globant during the 4th quarter worth $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the 3rd quarter worth $40,000. Van Berkom & Associates Inc. acquired a new stake in shares of Globant during the fourth quarter worth $45,000. Finally, Promus Capital LLC purchased a new stake in shares of Globant during the fourth quarter valued at $64,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on GLOB shares. Piper Sandler cut their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and upped their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Scotiabank reduced their target price on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $219.71.

Globant Stock Down 6.3 %

Shares of Globant stock opened at $118.48 on Friday. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32. The stock has a market capitalization of $5.22 billion, a P/E ratio of 31.85, a PEG ratio of 2.38 and a beta of 1.47. The stock has a 50 day moving average price of $174.61 and a two-hundred day moving average price of $200.39.

Globant (NYSE:GLOB) last posted its 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). The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

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.