Aberdeen Group plc Acquires 49,188 Shares of Globant S.A. $GLOB

Key Points

• Aberdeen Group plc increased its stake in Globant S.A. by 10.5% in the first quarter, acquiring an additional 49,188 shares, bringing total holdings to approximately 1.18% of the company, valued at $60.5 million.
• A variety of institutional investors have also significantly increased their holdings, with 91.60% of the stock now owned by institutional investors, indicating strong confidence in the company.
• Globant's stock price recently fell 14.8%, with a current trading price of $66.54, down from a 52-week high of $238.32, as analysts await a projected EPS of 5.73 for the fiscal year.

Aberdeen Group plc increased its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 519,338 shares of the information technology services provider's stock after acquiring an additional 49,188 shares during the period. Aberdeen Group plc owned approximately 1.18% of Globant worth $60,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GLOB. Signaturefd LLC grew its holdings in shares of Globant by 29.7% during the 1st 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 during the last quarter. Blue Trust Inc. grew its position in shares of Globant by 23.6% in the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after buying an additional 116 shares during the last quarter. Commerce Bank increased its position in Globant by 8.8% during the 4th quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock valued at $402,000 after purchasing an additional 151 shares during the period. Benjamin Edwards Inc. lifted its holdings in Globant by 4.8% in the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock worth $712,000 after buying an additional 151 shares during the period. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after buying an additional 155 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GLOB shares. Canaccord Genuity Group reissued a "hold" rating and issued a $97.00 target price (down from $165.00) on shares of Globant in a report on Thursday, June 26th. Needham & Company LLC decreased their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a report on Friday, August 15th. The Goldman Sachs Group cut their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price objective for the company. Finally, JPMorgan Chase & Co. cut Globant from an "overweight" rating to a "neutral" rating and set a $78.00 target price on the stock. in a research report on Friday, August 15th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Globant presently has an average rating of "Moderate Buy" and an average target price of $139.47.

Globant Trading Down 0.3%

Globant stock traded down $0.20 during trading hours on Thursday, reaching $67.36. The company had a trading volume of 545,458 shares, compared to its average volume of 1,157,053. The company has a 50-day moving average price of $85.59 and a 200 day moving average price of $117.09. Globant S.A. has a 12-month low of $64.51 and a 12-month high of $238.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.56. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 3.06 and a beta of 1.16.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. The firm had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current 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.