Globant S.A. (NYSE:GLOB) Stock Position Increased by Avior Wealth Management LLC

Avior Wealth Management LLC grew its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 12,437.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,009 shares of the information technology services provider's stock after acquiring an additional 2,985 shares during the period. Avior Wealth Management LLC's holdings in Globant were worth $354,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in shares of Globant in the 4th quarter valued at approximately $38,000. Farther Finance Advisors LLC increased its stake in Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 252 shares during the last quarter. Promus Capital LLC bought a new stake in Globant during the fourth quarter valued at $64,000. Blue Trust Inc. raised its holdings in shares of Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 116 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Globant in the 4th quarter worth about $81,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLOB has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Needham & Company LLC dropped their price target on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Piper Sandler lowered Globant from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $97.00 price objective (down from $165.00) on shares of Globant in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Globant Stock Performance

Shares of GLOB traded up $2.59 during trading hours on Thursday, reaching $91.49. 1,061,117 shares of the company's stock traded hands, compared to its average volume of 719,686. Globant S.A. has a twelve month low of $86.02 and a twelve month high of $238.32. The business's fifty day simple moving average is $107.06 and its two-hundred day simple moving average is $153.21. 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 firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 27.07, a P/E/G ratio of 1.72 and a beta of 1.24.

Globant (NYSE:GLOB - Get Free Report) last announced 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 net margin of 6.16% and a return on equity of 11.08%. The company had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same quarter in the prior year, the company earned $1.53 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that Globant S.A. will post 5.73 earnings per share for the current 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.