11,488 Shares in Globant S.A. (NYSE:GLOB) Purchased by Oak Thistle LLC

Oak Thistle LLC purchased a new position in Globant S.A. (NYSE:GLOB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,488 shares of the information technology services provider’s stock, valued at approximately $1,352,000.

Several other hedge funds have also recently modified their holdings of GLOB. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Globant by 2.5% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 90,030 shares of the information technology services provider’s stock worth $10,598,000 after buying an additional 2,219 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Globant in the 1st quarter worth approximately $1,699,000. Teachers Retirement System of The State of Kentucky bought a new position in Globant in the 1st quarter worth approximately $3,449,000. Diversify Advisory Services LLC bought a new position in Globant in the 1st quarter worth approximately $357,000. Finally, Hussman Strategic Advisors Inc. bought a new position in Globant in the 1st quarter worth approximately $2,967,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GLOB. Wall Street Zen upgraded Globant from a “sell” rating to a “hold” rating in a research report on Monday, May 19th. Guggenheim reissued a “buy” rating and issued a $125.00 price target on shares of Globant in a research report on Tuesday, June 10th. Mizuho set a $153.00 target price on Globant and gave the company an “outperform” rating in a research report on Monday, May 19th. Piper Sandler downgraded Globant from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $154.00 to $116.00 in a research note on Friday, May 16th. Finally, Needham & Company LLC dropped their price target on Globant from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.69.

Globant Trading Up 1.1%

NYSE:GLOB opened at $89.97 on Thursday. The firm has a market cap of $3.96 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 3.14 and a beta of 1.20. The stock has a fifty day moving average price of $94.69 and a 200 day moving average price of $135.20. Globant S.A. has a 12-month low of $82.39 and a 12-month high of $238.32. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The business had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same quarter in the prior year, the business earned $1.53 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. 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.