843 Shares in Globant S.A. (NYSE:GLOB) Purchased by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC bought a new position in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 843 shares of the information technology services provider’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CI Investments Inc. boosted its holdings in shares of Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 72 shares in the last quarter. Cornerstone Planning Group LLC purchased a new position in shares of Globant in the 2nd quarter worth about $50,000. Fortis Capital Advisors LLC purchased a new position in shares of Globant in the 1st quarter worth about $55,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Globant by 303.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 375 shares of the information technology services provider’s stock worth $62,000 after purchasing an additional 282 shares in the last quarter. Finally, Advisors Asset Management Inc. purchased a new position in shares of Globant in the 1st quarter worth about $72,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GLOB shares. HSBC cut their price objective on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Guggenheim started coverage on Globant in a research note on Tuesday, March 19th. They issued a “buy” rating and a $250.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Citigroup boosted their target price on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Piper Sandler boosted their target price on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $246.59.

Globant Price Performance

GLOB opened at $179.29 on Friday. The business has a 50 day simple moving average of $209.46 and a two-hundred day simple moving average of $212.69. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 49.39, a PEG ratio of 1.36 and a beta of 1.35. Globant S.A. has a one year low of $135.40 and a one year high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The business had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. As a group, sell-side analysts expect that Globant S.A. will post 5.03 EPS for the current fiscal 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.