Globant S.A. (NYSE:GLOB) Stock Holdings Lifted by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Globant S.A. (NYSE:GLOB) by 62.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398 shares of the information technology services provider’s stock after purchasing an additional 153 shares during the quarter. Van ECK Associates Corp’s holdings in Globant were worth $86,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLOB. Manning & Napier Advisors LLC bought a new stake in shares of Globant during the 2nd quarter worth about $99,396,000. Sei Investments Co. boosted its stake in shares of Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after acquiring an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after acquiring an additional 161,512 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Globant by 28.4% during the 2nd quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after acquiring an additional 75,192 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Globant by 89.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after acquiring an additional 126,030 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLOB shares. Scotiabank upped their price target on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Citigroup boosted their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. KeyCorp boosted their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.00.

Globant Price Performance

NYSE GLOB opened at $236.80 on Thursday. The firm has a market cap of $10.20 billion, a PE ratio of 61.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.39. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The stock’s 50 day simple moving average is $207.49 and its 200 day simple moving average is $190.28.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. Globant’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. As a group, equities analysts expect that Globant S.A. will post 5.06 earnings per share for the current year.

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.