Creative Planning Increases Stock Position in Globant S.A. (NYSE:GLOB)

Creative Planning grew its stake in shares of Globant S.A. (NYSE:GLOB) by 20.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,062 shares of the information technology services provider’s stock after acquiring an additional 351 shares during the quarter. Creative Planning’s holdings in Globant were worth $409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Manning & Napier Advisors LLC bought a new stake in shares of Globant during the 2nd quarter valued at about $99,396,000. Dimensional Fund Advisors LP grew its position in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after buying an additional 161,512 shares during the period. Sei Investments Co. increased its holdings in Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Globant by 89.9% in the second 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 during the period. Finally, Millennium Management LLC boosted its stake in shares of Globant by 84.8% during the 2nd quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider’s stock worth $46,574,000 after acquiring an additional 119,860 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GLOB shares. StockNews.com cut Globant from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Scotiabank raised their price objective 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 company a “buy” rating in a research note on Monday, October 28th. Piper Sandler reaffirmed an “overweight” rating and set 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 increased their price objective on shares of Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $226.21.

Globant Stock Up 6.9 %

Shares of Globant stock opened at $234.06 on Friday. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 61.11, a PEG ratio of 2.60 and a beta of 1.39. The business has a 50-day moving average price of $205.47 and a 200-day moving average price of $189.06. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50.

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 the consensus estimate of $1.50 by $0.01. The company had revenue of $587.46 million during 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%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. On average, equities analysts expect that Globant S.A. will post 5.06 EPS for the current fiscal 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.