Hood River Capital Management LLC Makes New Investment in Globant S.A. (NYSE:GLOB)

Hood River Capital Management LLC acquired a new stake in Globant S.A. (NYSE:GLOB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,405 shares of the information technology services provider’s stock, valued at approximately $4,172,000. Hood River Capital Management LLC owned approximately 0.05% of Globant as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in GLOB. Itau Unibanco Holding S.A. boosted its position in shares of Globant by 3,414.3% during the second quarter. Itau Unibanco Holding S.A. now owns 31,277 shares of the information technology services provider’s stock worth $5,575,000 after acquiring an additional 30,387 shares during the last quarter. Investidor Profissional Gestao de Recursos Ltda. purchased a new stake in Globant in the 2nd quarter worth $3,364,000. Thrivent Financial for Lutherans boosted its holdings in shares of Globant by 29.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 83,525 shares of the information technology services provider’s stock valued at $14,890,000 after purchasing an additional 19,128 shares during the last quarter. Sei Investments Co. grew its position in shares of Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Globant by 7.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,296 shares of the information technology services provider’s stock valued at $409,000 after purchasing an additional 156 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GLOB shares. Citigroup increased their price target on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 12th. UBS Group reiterated a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Piper Sandler restated an “overweight” rating and issued a $240.00 price target (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. Scotiabank upped their price target on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Finally, StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $222.90.

Globant Price Performance

Globant stock opened at $192.95 on Tuesday. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 50.64, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. The firm has a 50-day moving average of $195.28 and a two-hundred day moving average of $186.66. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The company 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%. Globant’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Research analysts expect that Globant S.A. will post 5.01 earnings per share for the current year.

Globant 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.