Granahan Investment Management LLC Has $41.81 Million Stock Position in Globant S.A. (NYSE:GLOB)

Granahan Investment Management LLC boosted its position in Globant S.A. (NYSE:GLOB) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 194,980 shares of the information technology services provider’s stock after buying an additional 583 shares during the quarter. Globant makes up about 1.7% of Granahan Investment Management LLC’s holdings, making the stock its 14th biggest position. Granahan Investment Management LLC owned about 0.45% of Globant worth $41,808,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GLOB. GQG Partners LLC acquired a new stake in shares of Globant in the fourth quarter valued at about $84,906,000. Canada Pension Plan Investment Board bought a new stake in Globant during the 4th quarter valued at approximately $60,913,000. JPMorgan Chase & Co. grew its holdings in Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after buying an additional 203,472 shares during the last quarter. Capital International Investors increased its position in Globant by 13.1% in the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after buying an additional 197,064 shares during the period. Finally, abrdn plc lifted its holdings in shares of Globant by 36.7% during 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 during the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group dropped their target price 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. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and upped their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Susquehanna decreased their target price on Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Saturday, May 3rd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $204.00.

Globant Stock Performance

GLOB opened at $128.83 on Friday. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 34.63, a PEG ratio of 2.38 and a beta of 1.37. The firm’s 50-day simple moving average is $119.65 and its 200-day simple moving average is $180.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. As a group, sell-side analysts anticipate that Globant S.A. will post 5.73 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.