1,581 Shares in Globant S.A. (NYSE:GLOB) Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC purchased a new stake in Globant S.A. (NYSE:GLOB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,581 shares of the information technology services provider’s stock, valued at approximately $281,000.

Several other institutional investors have also recently bought and sold shares of the business. Accent Capital Management LLC bought a new position in shares of Globant in the fourth quarter valued at approximately $29,000. BOKF NA lifted its stake in 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 acquiring an additional 158 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Globant during the 2nd quarter worth $31,000. Principal Securities Inc. purchased a new stake in shares of Globant in the fourth quarter valued at about $56,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of Globant in the first quarter valued at about $54,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $240.00 price objective (up from $238.00) on shares of Globant in a research report on Friday, August 16th. TD Cowen increased their price target on Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Needham & Company LLC boosted their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Citigroup raised their target price on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.90.

Globant Trading Down 2.4 %

Shares of Globant stock opened at $192.41 on Wednesday. The company’s 50-day moving average price is $195.12 and its 200-day moving average price is $187.26. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 2.49 and a beta of 1.40. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 EPS. On average, sell-side analysts predict that Globant S.A. will post 5.01 earnings per share 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.