1,143 Shares in Globant S.A. (NYSE:GLOB) Purchased by Choate Investment Advisors

Choate Investment Advisors bought a new position in shares of Globant S.A. (NYSE:GLOB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,143 shares of the information technology services provider’s stock, valued at approximately $245,000.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in Globant by 121.3% in the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock valued at $6,014,000 after acquiring an additional 16,639 shares in the last quarter. Natixis Advisors LLC increased its position in Globant by 30.4% in the 3rd quarter. Natixis Advisors LLC now owns 13,468 shares of the information technology services provider’s stock valued at $2,669,000 after acquiring an additional 3,142 shares in the last quarter. TrinityPoint Wealth LLC acquired a new stake in Globant in the 3rd quarter valued at about $208,000. Investidor Profissional Gestao de Recursos Ltda. increased its position in Globant by 109.8% in the 3rd quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 39,595 shares of the information technology services provider’s stock valued at $7,845,000 after acquiring an additional 20,725 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its position in Globant by 795.3% in the 3rd quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the information technology services provider’s stock valued at $5,669,000 after acquiring an additional 25,417 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Price Performance

Globant stock opened at $136.04 on Tuesday. The company’s 50 day simple moving average is $189.60 and its 200 day simple moving average is $204.83. Globant S.A. has a fifty-two week low of $128.76 and a fifty-two week high of $238.32. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $644.42 million. As a group, analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on GLOB. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Canaccord Genuity Group lowered their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Susquehanna began coverage on shares of Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. UBS Group reduced their target price 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $221.39.

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.