Raymond James & Associates Trims Position in Globant S.A. (NYSE:GLOB)

Raymond James & Associates lessened its stake in shares of Globant S.A. (NYSE:GLOB) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 46,979 shares of the information technology services provider’s stock after selling 63 shares during the period. Raymond James & Associates owned 0.11% of Globant worth $11,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Wealth Alliance raised its holdings in shares of Globant by 3.5% during the 3rd quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock worth $349,000 after acquiring an additional 59 shares during the period. Janney Capital Management LLC raised its holdings in shares of Globant by 2.5% during the 3rd quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock worth $487,000 after acquiring an additional 61 shares during the period. Private Advisor Group LLC raised its holdings in shares of Globant by 5.2% during the 1st 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 during the period. National Bank of Canada FI raised its holdings in shares of Globant by 1.9% during the 3rd 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 during the period. Finally, MetLife Investment Management LLC increased its position in shares of Globant by 2.7% during the 2nd quarter. MetLife Investment Management LLC now owns 2,532 shares of the information technology services provider’s stock worth $455,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. KeyCorp raised their price objective on Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Needham & Company LLC raised their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Piper Sandler raised their price objective on Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Citigroup raised their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, HSBC cut their price objective on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $246.59.

Globant Stock Performance

Shares of Globant stock opened at $196.84 on Friday. Globant S.A. has a one year low of $135.40 and a one year high of $251.50. The company has a market cap of $8.48 billion, a PE ratio of 54.23, a P/E/G ratio of 1.50 and a beta of 1.35. The business has a 50-day simple moving average of $221.18 and a 200-day simple moving average of $213.32.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). The business had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. On average, sell-side analysts predict that Globant S.A. will post 5.04 earnings per share for the current fiscal year.

About Globant

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.