Pilgrim Partners Asia Pte Ltd Invests $81,000 in Globant S.A. (NYSE:GLOB)

Pilgrim Partners Asia Pte Ltd bought a new stake in Globant S.A. (NYSE:GLOB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 380 shares of the information technology services provider’s stock, valued at approximately $81,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after acquiring an additional 203,472 shares during the period. Victory Capital Management Inc. grew its holdings in Globant by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after purchasing an additional 96,257 shares during the period. Jennison Associates LLC increased its position in Globant by 0.6% during the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after buying an additional 4,970 shares during the last quarter. Sei Investments Co. increased its position in Globant by 3.5% during the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock worth $129,252,000 after buying an additional 20,365 shares during the last quarter. Finally, abrdn plc raised its stake in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after buying an additional 126,333 shares during the period. 91.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLOB. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Piper Sandler decreased their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, Scotiabank cut their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.56.

Globant Trading Down 4.7 %

Shares of NYSE:GLOB opened at $100.14 on Friday. The firm has a 50 day moving average of $164.90 and a 200-day moving average of $197.37. Globant S.A. has a 12 month low of $96.93 and a 12 month high of $238.32. The stock has a market capitalization of $4.41 billion, a PE ratio of 26.92, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm 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 predict that Globant S.A. will post 5.73 EPS for the current fiscal 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.