GQG Partners LLC Takes Position in Globant S.A. (NYSE:GLOB)

GQG Partners LLC acquired a new stake in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 395,979 shares of the information technology services provider’s stock, valued at approximately $84,906,000. GQG Partners LLC owned 0.92% of Globant at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new stake in Globant during the 4th quarter valued at about $38,000. Kestra Investment Management LLC bought a new position in shares of Globant during the fourth quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Globant during the third quarter valued at $40,000. Van Berkom & Associates Inc. bought a new stake in Globant in the 4th quarter worth about $45,000. Finally, Promus Capital LLC purchased a new position in Globant in the 4th quarter worth about $64,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB stock opened at $129.49 on Tuesday. Globant S.A. has a one year low of $124.53 and a one year high of $238.32. The company’s fifty day moving average price is $181.64 and its 200-day moving average price is $202.43. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 2.38 and a beta of 1.47.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on GLOB. Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Canaccord Genuity Group lowered their price target on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. UBS Group cut their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Finally, Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and boosted their price target for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $219.71.

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.