XTX Topco Ltd Purchases New Shares in Globant S.A. (NYSE:GLOB)

XTX Topco Ltd purchased a new stake in Globant S.A. (NYSE:GLOB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,508 shares of the information technology services provider’s stock, valued at approximately $804,000.

A number of other institutional investors have also made changes to their positions in the business. 17 Capital Partners LLC raised its holdings in shares of Globant by 1.6% in the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after buying an additional 55 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Globant by 3.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock worth $432,000 after purchasing an additional 81 shares during the period. Franklin Resources Inc. increased its position in Globant by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock worth $3,016,000 after purchasing an additional 111 shares during the period. Parkside Financial Bank & Trust increased its position in Globant by 6.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock worth $352,000 after purchasing an additional 118 shares during the period. Finally, Accent Capital Management LLC acquired a new stake in Globant in the fourth quarter worth about $29,000. 91.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GLOB shares. UBS Group reiterated a “neutral” rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Piper Sandler reiterated 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. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. Canaccord Genuity Group boosted their target price on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group boosted their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.90.

Globant Stock Performance

NYSE GLOB opened at $189.10 on Monday. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.49 and a beta of 1.40. The stock’s 50 day moving average price is $195.34 and its two-hundred day moving average price is $186.79. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB) last released its earnings results 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. The firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. On average, equities research analysts forecast that Globant S.A. will post 5.01 EPS 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.