Townsquare Capital LLC Boosts Position in Globant S.A. (NYSE:GLOB)

Townsquare Capital LLC boosted its position in Globant S.A. (NYSE:GLOB) by 34.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,884 shares of the information technology services provider’s stock after purchasing an additional 2,006 shares during the period. Townsquare Capital LLC’s holdings in Globant were worth $1,690,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC lifted its position in Globant by 132.9% during the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock valued at $4,467,000 after purchasing an additional 12,862 shares in the last quarter. M&T Bank Corp lifted its position in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Globant by 26.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock valued at $656,000 after acquiring an additional 688 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Globant during the 3rd quarter valued at approximately $40,000. Finally, Franklin Resources Inc. raised its stake in Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after acquiring an additional 71 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. UBS Group cut their price target on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group lowered their price objective on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Scotiabank lowered their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.94.

Globant Stock Down 1.6 %

GLOB stock opened at $106.59 on Thursday. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32. The firm has a market capitalization of $4.69 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The company has a fifty day simple moving average of $143.65 and a two-hundred day simple moving average of $191.26.

Globant (NYSE:GLOB) last announced 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). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, analysts anticipate that Globant S.A. will post 5.73 EPS 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.