Intrinsic Edge Capital Management LLC Takes Position in Globant S.A. (NYSE:GLOB)

Intrinsic Edge Capital Management LLC acquired a new stake in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 51,463 shares of the information technology services provider’s stock, valued at approximately $11,035,000. Globant makes up about 1.3% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 26th biggest position. Intrinsic Edge Capital Management LLC owned about 0.12% of Globant as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GQG Partners LLC purchased a new position in Globant during the 4th quarter valued at approximately $84,906,000. Canada Pension Plan Investment Board bought a new position in shares of Globant in the 4th quarter valued at about $60,913,000. JPMorgan Chase & Co. increased its stake in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after acquiring an additional 203,472 shares during the last quarter. Capital International Investors raised its position in Globant by 13.1% during the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock valued at $364,723,000 after purchasing an additional 197,064 shares during the period. Finally, abrdn plc lifted its holdings in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after acquiring an additional 126,333 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Up 0.5 %

Shares of GLOB opened at $119.00 on Friday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32. The stock’s 50-day moving average price is $128.05 and its 200-day moving average price is $186.98.

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

Wall Street Analyst Weigh In

GLOB has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group dropped their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Canaccord Genuity Group reduced their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. Finally, Jefferies Financial Group raised their target price on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Globant has an average rating of “Moderate Buy” and a consensus price target of $205.88.

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.