Insigneo Advisory Services LLC Increases Holdings in Globant S.A. $GLOB

Insigneo Advisory Services LLC raised its stake in Globant S.A. (NYSE:GLOB) by 259.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,082 shares of the information technology services provider’s stock after acquiring an additional 5,832 shares during the period. Insigneo Advisory Services LLC’s holdings in Globant were worth $734,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GLOB. Westfield Capital Management Co. LP grew its position in Globant by 34.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock valued at $99,972,000 after purchasing an additional 280,081 shares during the last quarter. Royal Bank of Canada raised its holdings in Globant by 293.5% in the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider’s stock worth $117,716,000 after acquiring an additional 745,848 shares during the last quarter. Invesco Ltd. lifted its position in Globant by 764.3% in the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider’s stock valued at $111,271,000 after acquiring an additional 835,859 shares in the last quarter. Polen Capital Management LLC lifted its position in Globant by 22.0% in the 1st quarter. Polen Capital Management LLC now owns 774,418 shares of the information technology services provider’s stock valued at $91,164,000 after acquiring an additional 139,894 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Globant by 73.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 549,328 shares of the information technology services provider’s stock valued at $64,667,000 after purchasing an additional 233,145 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of research analyst reports. Canaccord Genuity Group lowered their price target on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 14th. Jefferies Financial Group lowered Globant from a “buy” rating to a “hold” rating and decreased their target price for the stock from $80.00 to $61.00 in a research report on Thursday, November 20th. Wells Fargo & Company raised shares of Globant to a “hold” rating in a report on Wednesday, October 22nd. Needham & Company LLC decreased their price objective on shares of Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Globant in a research report on Wednesday, November 19th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.67.

Globant Trading Down 2.0%

Shares of GLOB stock opened at $61.62 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 5.93 and a beta of 1.20. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $235.08. The firm has a fifty day moving average price of $59.47 and a 200-day moving average price of $77.36.

Globant (NYSE:GLOB) last released its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The company had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. During the same quarter last year, the firm posted $1.63 earnings per share. Globant’s revenue for the quarter was up .4% on a year-over-year basis. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. As a group, equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Globant declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 1st that authorizes the company to buyback $125.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.