Hood River Capital Management LLC Acquires New Holdings in Globant S.A. (NYSE:GLOB)

Hood River Capital Management LLC acquired a new position in Globant S.A. (NYSE:GLOB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,405 shares of the information technology services provider’s stock, valued at approximately $4,172,000.

A number of other hedge funds also recently bought and sold shares of the stock. Accent Capital Management LLC bought a new position in shares of Globant during the 4th quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new position in shares of Globant during the second quarter worth $31,000. BOKF NA lifted its holdings in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in shares of Globant in the 1st quarter worth $54,000. Finally, GAMMA Investing LLC grew its stake in Globant by 82.0% during the 2nd quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock worth $90,000 after buying an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Up 2.0 %

NYSE GLOB opened at $192.95 on Tuesday. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 50.64, a PEG ratio of 2.49 and a beta of 1.40. The stock has a 50-day moving average of $195.28 and a 200 day moving average of $186.66. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same period in the previous year, the business earned $1.04 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. Equities analysts predict that Globant S.A. will post 5.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. Needham & Company LLC boosted their target price on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a report on Friday, August 16th. Finally, Canaccord Genuity Group boosted their price objective on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and an average price target of $222.90.

Globant 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.