Synovus Financial Corp Purchases Shares of 4,238 Globant S.A. (NYSE:GLOB)

Synovus Financial Corp bought a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,238 shares of the information technology services provider's stock, valued at approximately $909,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Centricity Wealth Management LLC acquired a new stake in Globant in the fourth quarter valued at about $38,000. Kestra Investment Management LLC acquired a new stake in shares of Globant in the 4th quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Globant in the 3rd quarter valued at approximately $40,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant in the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC acquired a new position in Globant during the fourth quarter worth $64,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GLOB. JPMorgan Chase & Co. decreased their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. 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. Scotiabank lowered their target price on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a research report on Monday, February 24th. UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $209.94.

Globant Stock Performance

GLOB stock traded up $0.71 during trading on Tuesday, hitting $104.84. The stock had a trading volume of 618,862 shares, compared to its average volume of 597,850. The stock has a market cap of $4.62 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The company's 50 day moving average price is $134.48 and its two-hundred day moving average price is $188.67. Globant S.A. has a 1-year low of $96.23 and a 1-year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted 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 net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. As a group, sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share 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.