HighPoint Advisor Group LLC Invests $450,000 in Globant S.A. (NYSE:GLOB)

HighPoint Advisor Group LLC purchased a new position in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,889 shares of the information technology services provider’s stock, valued at approximately $450,000.

Other hedge funds also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Globant during the 4th quarter worth $490,000. Trust Point Inc. acquired a new position in Globant in the 4th quarter valued at $1,741,000. Franklin Resources Inc. grew its stake in Globant by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock valued at $3,016,000 after buying an additional 111 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Globant by 146.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider’s stock valued at $10,734,000 after buying an additional 26,850 shares during the last quarter. Finally, Capital International Investors grew its stake in Globant by 0.5% in the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after buying an additional 6,707 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. KeyCorp lowered their target price on shares of Globant from $272.00 to $220.00 and set an “overweight” rating on the stock in a research note on Friday, May 17th. Redburn Atlantic initiated coverage on shares of Globant in a research note on Friday, May 24th. They issued a “sell” rating and a $135.00 target price on the stock. TD Cowen lowered their target price on shares of Globant from $235.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Finally, Citigroup lowered their target price on shares of Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Globant Stock Performance

NYSE:GLOB opened at $154.21 on Thursday. The company has a 50-day moving average of $172.30 and a 200-day moving average of $206.09. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 1.62 and a beta of 1.40. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. Sell-side analysts forecast that Globant S.A. will post 5.02 EPS for the current 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.