Amundi Raises Position in Globant S.A. (NYSE:GLOB)

Amundi grew its position in Globant S.A. (NYSE:GLOB) by 209.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,718 shares of the information technology services provider’s stock after buying an additional 1,839 shares during the period. Amundi’s holdings in Globant were worth $580,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after acquiring an additional 16,639 shares during the period. Natixis Advisors LLC grew its stake in shares of Globant by 30.4% in the third quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock worth $2,669,000 after acquiring an additional 3,142 shares during the period. Icon Wealth Advisors LLC grew its stake in shares of Globant by 795.3% in the third quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the information technology services provider’s stock worth $5,669,000 after acquiring an additional 25,417 shares during the period. Cerity Partners LLC grew its stake in shares of Globant by 31.0% in the third quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider’s stock worth $2,977,000 after acquiring an additional 3,556 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Globant by 5.1% in the third quarter. Fisher Asset Management LLC now owns 27,591 shares of the information technology services provider’s stock worth $5,467,000 after acquiring an additional 1,343 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLOB. JPMorgan Chase & Co. cut their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Piper Sandler cut their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and boosted their target price for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. UBS Group cut their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $219.71.

Globant Price Performance

Globant stock opened at $128.89 on Friday. The firm has a 50 day simple moving average of $184.75 and a 200-day simple moving average of $203.34. Globant S.A. has a 1-year low of $124.53 and a 1-year high of $238.32. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Equities analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.