Oak Thistle LLC Makes New Investment in Globant S.A. (NYSE:GLOB)

Oak Thistle LLC purchased a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,488 shares of the information technology services provider's stock, valued at approximately $1,352,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE grew its position in Globant by 2.9% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after acquiring an additional 76 shares in the last quarter. Signaturefd LLC boosted its holdings in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 89 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in 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 valued at $3,965,000 after purchasing an additional 110 shares in the last quarter. Blue Trust Inc. lifted its stake in Globant by 23.6% in the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after buying an additional 116 shares during the last quarter. Finally, Commerce Bank lifted its stake in Globant by 8.8% in the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock valued at $402,000 after buying an additional 151 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GLOB. Canaccord Genuity Group restated a "hold" rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Mizuho set a $153.00 price objective on Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. Needham & Company LLC cut their price objective on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Guggenheim reiterated a "buy" rating and issued a $125.00 price objective on shares of Globant in a research report on Tuesday, June 10th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $165.69.

Globant Stock Performance

Shares of NYSE GLOB traded up $3.98 during trading hours on Friday, hitting $92.80. 1,397,682 shares of the company's stock were exchanged, compared to its average volume of 1,036,656. Globant S.A. has a 1-year low of $82.39 and a 1-year high of $238.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 3.28 and a beta of 1.20. The company's 50-day moving average price is $93.65 and its 200-day moving average price is $132.90.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same period in the previous year, the company posted $1.53 earnings per share. The company's quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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.