Globant S.A. (NYSE:GLOB) Position Increased by Wealth Alliance

Wealth Alliance increased its position in Globant S.A. (NYSE:GLOBFree Report) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,763 shares of the information technology services provider’s stock after purchasing an additional 59 shares during the quarter. Wealth Alliance’s holdings in Globant were worth $349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Capital Management LLC lifted its position in Globant by 2.5% in the third quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock worth $487,000 after purchasing an additional 61 shares during the period. Private Advisor Group LLC raised its stake in Globant by 5.2% during the first quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after acquiring an additional 63 shares in the last quarter. National Bank of Canada FI raised its stake in Globant by 1.9% during the third quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock worth $693,000 after acquiring an additional 65 shares in the last quarter. MetLife Investment Management LLC raised its stake in Globant by 2.7% during the second quarter. MetLife Investment Management LLC now owns 2,532 shares of the information technology services provider’s stock worth $455,000 after acquiring an additional 66 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Globant by 0.5% during the second quarter. Alliancebernstein L.P. now owns 12,560 shares of the information technology services provider’s stock worth $2,257,000 after acquiring an additional 68 shares in the last quarter. 91.49% of the stock is owned by institutional investors.

Globant Stock Up 2.1 %

Shares of GLOB stock opened at $242.99 on Monday. The stock has a 50-day moving average price of $233.82 and a 200 day moving average price of $205.60. The firm has a market cap of $10.31 billion, a price-to-earnings ratio of 67.87 and a beta of 1.39. Globant S.A. has a 12 month low of $135.40 and a 12 month high of $251.50.

Globant (NYSE:GLOBGet Free Report) last announced its quarterly earnings data on Thursday, November 16th. The information technology services provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.06). Globant had a return on equity of 11.34% and a net margin of 7.76%. The firm had revenue of $545.28 million during the quarter, compared to analyst estimates of $544.64 million. Sell-side analysts predict that Globant S.A. will post 4.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLOB shares. Canaccord Genuity Group started coverage on Globant in a research note on Wednesday, December 6th. They set a “hold” rating and a $230.00 price objective for the company. Piper Sandler Companies dropped their price objective on Globant from $230.00 to $212.00 and set an “overweight” rating for the company in a research note on Friday, November 10th. Citigroup increased their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Mizuho assumed coverage on Globant in a research note on Tuesday, January 30th. They issued a “buy” rating and a $283.00 target price for the company. Finally, Itau BBA Securities lowered Globant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Read Our Latest Research Report on Globant

About Globant

(Free Report)

Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

Further Reading

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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