Investidor Profissional Gestao de Recursos Ltda. Makes New Investment in Globant S.A. (NYSE:GLOB)

Investidor Profissional Gestao de Recursos Ltda. acquired a new stake in Globant S.A. (NYSE:GLOB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 18,870 shares of the information technology services provider’s stock, valued at approximately $3,364,000. Globant accounts for 1.5% of Investidor Profissional Gestao de Recursos Ltda.’s investment portfolio, making the stock its 11th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC bought a new stake in Globant in the fourth quarter valued at $29,000. BOKF NA increased its position in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 158 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Globant during the 2nd quarter worth approximately $31,000. Principal Securities Inc. acquired a new position in Globant during the 4th quarter worth approximately $56,000. Finally, RiverPark Advisors LLC bought a new position in Globant in the first quarter worth approximately $54,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GLOB. Needham & Company LLC upped their target price on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. TD Cowen raised their price objective on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Citigroup boosted their target price on shares of Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Canaccord Genuity Group raised their price target on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Stock Performance

Shares of GLOB stock opened at $189.06 on Friday. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 49.62, a P/E/G ratio of 2.49 and a beta of 1.40. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The firm’s 50-day simple moving average is $195.34 and its two-hundred day simple moving average is $187.12.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter in the previous year, the firm posted $1.04 EPS. Globant’s revenue was up 18.1% on a year-over-year basis. Analysts forecast that Globant S.A. will post 5.01 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.