Avior Wealth Management LLC Purchases 2,985 Shares of Globant S.A. (NYSE:GLOB)

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

Several other institutional investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in Globant in the fourth quarter valued at approximately $38,000. Farther Finance Advisors LLC raised its stake in Globant by 186.7% in 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 in the last quarter. Promus Capital LLC purchased a new stake in Globant in the fourth quarter valued at approximately $64,000. Blue Trust Inc. raised 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 purchasing an additional 116 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Globant in the fourth quarter valued at approximately $81,000. Institutional investors own 91.60% of the company's stock.

Globant Price Performance

Shares of Globant stock opened at $87.58 on Monday. The firm has a market cap of $3.86 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. Globant S.A. has a 12-month low of $86.68 and a 12-month high of $238.32. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The company's fifty day simple moving average is $108.15 and its two-hundred day simple moving average is $155.09.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly 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). The firm had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. Globant's revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $1.53 EPS. As a group, equities analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLOB. Canaccord Genuity Group lowered their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research note on Monday, February 24th. Mizuho set a $153.00 target price on shares of Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Susquehanna lowered their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Scotiabank lowered their target price on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Finally, Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and increased their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $179.19.

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.

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