Bank of America Corp DE Raises Holdings in Globant S.A. (NYSE:GLOB)

Bank of America Corp DE raised its holdings in shares of Globant S.A. (NYSE:GLOB) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 440,039 shares of the information technology services provider’s stock after acquiring an additional 30,785 shares during the quarter. Bank of America Corp DE’s holdings in Globant were worth $94,353,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLOB. Centricity Wealth Management LLC purchased a new stake in Globant during the 4th quarter valued at $38,000. Kestra Investment Management LLC bought a new position in shares of Globant during the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB bought a new position in shares of Globant during the 3rd quarter valued at $40,000. Van Berkom & Associates Inc. bought a new position in shares of Globant during the 4th quarter valued at $45,000. Finally, Promus Capital LLC bought a new position in shares of Globant during the 4th quarter valued at $64,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Globant in a report on Wednesday, March 12th. Jefferies Financial Group increased their price target on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Susquehanna decreased their target price on Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $204.00.

Globant Stock Down 1.1%

NYSE:GLOB opened at $128.83 on Monday. The business’s 50-day simple moving average is $119.65 and its two-hundred day simple moving average is $179.98. The stock has a market cap of $5.67 billion, a PE ratio of 34.63, a P/E/G ratio of 2.38 and a beta of 1.37. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to the consensus estimate 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 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.