Globant S.A. (NYSE:GLOB) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of Globant S.A. (NYSE:GLOB) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 8,000 shares of the information technology services provider’s stock after buying an additional 100 shares during the period. Handelsbanken Fonder AB’s holdings in Globant were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of GLOB. Invesco Ltd. raised its position in Globant by 155.2% during the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock valued at $120,898,000 after acquiring an additional 371,628 shares in the last quarter. Jennison Associates LLC purchased a new position in Globant during the third quarter valued at approximately $48,804,000. Allspring Global Investments Holdings LLC raised its position in Globant by 36.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock valued at $167,797,000 after acquiring an additional 189,204 shares in the last quarter. Ameriprise Financial Inc. raised its position in Globant by 40.7% during the third quarter. Ameriprise Financial Inc. now owns 485,042 shares of the information technology services provider’s stock valued at $95,966,000 after acquiring an additional 140,398 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new position in Globant during the third quarter valued at approximately $27,343,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on GLOB shares. KeyCorp lifted their price target on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Guggenheim started coverage on Globant in a research report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective for the company. Piper Sandler boosted their price objective on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. JPMorgan Chase & Co. boosted their price objective on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Finally, HSBC cut their price objective on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $244.24.

Globant Stock Performance

NYSE GLOB opened at $180.80 on Friday. The stock’s fifty day moving average is $204.22 and its two-hundred day moving average is $211.98. The firm has a market capitalization of $7.79 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.35. Globant S.A. has a fifty-two week low of $135.40 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $580.71 million for the quarter, compared to analyst estimates of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, sell-side analysts forecast that Globant S.A. will post 5.03 EPS 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.