Sanctuary Advisors LLC Invests $474,000 in Globant S.A. (NYSE:GLOB)

Sanctuary Advisors LLC acquired a new position in Globant S.A. (NYSE:GLOB) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,624 shares of the information technology services provider’s stock, valued at approximately $474,000.

Several other institutional investors have also recently modified their holdings of the company. Quarry LP grew its holdings in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares during the period. Ridgewood Investments LLC acquired a new stake in Globant during the second quarter worth about $31,000. BOKF NA grew its holdings in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 158 shares during the period. RiverPark Advisors LLC acquired a new stake in Globant during the first quarter worth about $54,000. Finally, GAMMA Investing LLC grew its holdings in Globant by 82.0% during the second quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock worth $90,000 after acquiring an additional 228 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Citigroup raised their target price on Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Jefferies Financial Group raised their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Scotiabank raised their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report 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 presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Globant Price Performance

Shares of NYSE:GLOB opened at $216.36 on Thursday. The business’s 50 day moving average price is $198.69 and its 200-day moving average price is $186.24. The firm has a market capitalization of $9.32 billion, a PE ratio of 56.79, a P/E/G ratio of 2.61 and a beta of 1.39. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $586.72 million. During the same period in the previous year, the company posted $1.04 earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. As a group, analysts expect that Globant S.A. will post 5.02 earnings per share for the current year.

About Globant

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.