Coldstream Capital Management Inc. Sells 498 Shares of Globant S.A. (NYSE:GLOB)

Coldstream Capital Management Inc. decreased its holdings in Globant S.A. (NYSE:GLOB) by 27.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,292 shares of the information technology services provider’s stock after selling 498 shares during the period. Coldstream Capital Management Inc.’s holdings in Globant were worth $277,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GLOB. Franklin Resources Inc. lifted its holdings 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 buying an additional 71 shares during the period. Congress Wealth Management LLC DE lifted its stake in shares of Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider’s stock worth $575,000 after acquiring an additional 76 shares during the period. Treasurer of the State of North Carolina lifted its stake in shares of Globant by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider’s stock worth $3,965,000 after acquiring an additional 110 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Globant by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock valued at $1,032,000 after acquiring an additional 118 shares during the last quarter. Finally, Commerce Bank increased its position in Globant by 8.8% during the 4th quarter. Commerce Bank now owns 1,873 shares of the information technology services provider’s stock valued at $402,000 after purchasing an additional 151 shares during the period. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GLOB. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Scotiabank decreased their price target on Globant from $170.00 to $140.00 and set a “sector perform” rating for the company in a report on Tuesday. Susquehanna dropped their price objective on Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Redburn Atlantic raised 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. One 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $204.00.

Globant Trading Down 0.0 %

Globant stock opened at $117.52 on Friday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The firm’s fifty day moving average price is $122.82 and its two-hundred day moving average price is $184.45. Globant S.A. has a 1-year low of $96.23 and a 1-year high of $238.32.

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