Hsbc Holdings PLC Boosts Holdings in Globant S.A. (NYSE:GLOB)

Hsbc Holdings PLC increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 22.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,603 shares of the information technology services provider’s stock after buying an additional 13,674 shares during the period. Hsbc Holdings PLC owned about 0.17% of Globant worth $13,140,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GLOB. Manning & Napier Advisors LLC acquired a new position in shares of Globant in the second quarter worth $99,396,000. Wasatch Advisors LP grew its stake in Globant by 6.8% during the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after purchasing an additional 213,049 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 161,512 shares during the period. CIBC Private Wealth Group LLC raised its position in Globant by 65.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 405,124 shares of the information technology services provider’s stock valued at $96,411,000 after purchasing an additional 160,616 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Globant by 48.4% in the 4th quarter. 1832 Asset Management L.P. now owns 422,800 shares of the information technology services provider’s stock valued at $100,618,000 after buying an additional 137,900 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

NYSE GLOB opened at $189.10 on Monday. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The firm has a market cap of $8.15 billion, a PE ratio of 49.63, a P/E/G ratio of 2.49 and a beta of 1.40. The firm’s fifty day moving average is $195.34 and its two-hundred day moving average is $186.79.

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 the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same period in the prior year, the business earned $1.04 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Research analysts predict that Globant S.A. will post 5.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Citigroup increased their price objective on shares of Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Piper Sandler restated an “overweight” rating and issued a $240.00 price objective (up from $238.00) on shares of Globant in a report on Friday, August 16th. Jefferies Financial Group boosted their target price on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, The Goldman Sachs Group started coverage on Globant in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.90.

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.