Globant S.A. (NYSE:GLOB) Shares Acquired by Amundi

Amundi boosted its stake in shares of Globant S.A. (NYSE:GLOB) by 209.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,718 shares of the information technology services provider’s stock after buying an additional 1,839 shares during the quarter. Amundi’s holdings in Globant were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Globant by 121.3% during the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock valued at $6,014,000 after buying an additional 16,639 shares during the period. Natixis Advisors LLC raised its stake in Globant by 30.4% during the third quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock worth $2,669,000 after purchasing an additional 3,142 shares during the period. Icon Wealth Advisors LLC raised its stake in Globant by 795.3% during the third quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the information technology services provider’s stock worth $5,669,000 after purchasing an additional 25,417 shares during the period. Cerity Partners LLC increased its position in shares of Globant by 31.0% in the third quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider’s stock worth $2,977,000 after acquiring an additional 3,556 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Globant by 5.1% in the third quarter. Fisher Asset Management LLC now owns 27,591 shares of the information technology services provider’s stock worth $5,467,000 after acquiring an additional 1,343 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 3.7 %

NYSE GLOB opened at $128.89 on Friday. The firm has a market capitalization of $5.67 billion, a P/E ratio of 34.65, a PEG ratio of 2.38 and a beta of 1.47. The business has a fifty day simple moving average of $184.75 and a 200 day simple moving average of $203.34. Globant S.A. has a 12 month low of $124.53 and a 12 month high of $238.32.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Globant in a research report on Wednesday, March 12th. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and lifted their target price for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $219.71.

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.