Westfield Capital Management Co. LP Grows Stock Holdings in Globant S.A. $GLOB

Westfield Capital Management Co. LP lifted its position in shares of Globant S.A. (NYSE:GLOB) by 34.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,100,526 shares of the information technology services provider’s stock after purchasing an additional 280,081 shares during the period. Westfield Capital Management Co. LP owned 2.50% of Globant worth $99,972,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock worth $46,000 after buying an additional 89 shares during the period. Brooklyn Investment Group raised its holdings in shares of Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. CWM LLC lifted its stake in Globant by 30.1% in the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 147 shares during the period. State of Wyoming boosted its holdings in Globant by 53.1% in the first quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 171 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Globant in a research note on Thursday, November 13th. JPMorgan Chase & Co. reduced their target price on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, November 14th. Wells Fargo & Company upgraded Globant to a “hold” rating in a research report on Wednesday, October 22nd. UBS Group decreased their price objective on Globant from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Needham & Company LLC reduced their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Globant has an average rating of “Hold” and a consensus price target of $98.67.

Globant Trading Down 1.7%

Globant stock opened at $60.43 on Thursday. Globant S.A. has a 12 month low of $54.36 and a 12 month high of $235.08. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 5.73 and a beta of 1.20. The business’s fifty day simple moving average is $59.20 and its two-hundred day simple moving average is $78.97. The company has a current ratio of 1.93, a quick ratio of 1.71 and a debt-to-equity ratio of 0.16.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.02). The company had revenue of $617.14 million during the quarter, compared to analysts’ expectations of $615.32 million. Globant had a return on equity of 10.39% and a net margin of 4.01%.Globant’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. As a group, equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 1st that permits the company to buyback $125.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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.