Banco BTG Pactual S.A. Takes Position in Globant S.A. $GLOB

Key Points

• Banco BTG Pactual S.A. has acquired a new stake in Globant S.A., purchasing 8,500 shares valued at approximately $1,001,000 during the 1st quarter.
• Other institutional investors, such as Invesco Ltd. and Victory Capital Management Inc., have significantly increased their holdings in Globant, reflecting strong interest in the company's stock.
• Globant recently reported earnings that exceeded analysts' expectations, with a quarterly revenue of $614.18 million and earnings per share of $1.53.

Banco BTG Pactual S.A. purchased a new position in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,500 shares of the information technology services provider's stock, valued at approximately $1,001,000.

Several other hedge funds have also made changes to their positions in the business. Barclays PLC increased its stake in shares of Globant by 154.2% during the fourth quarter. Barclays PLC now owns 57,282 shares of the information technology services provider's stock worth $12,282,000 after buying an additional 34,745 shares during the period. Commerce Bank raised its holdings 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 acquiring an additional 151 shares in the last quarter. First Trust Advisors LP raised its holdings in Globant by 77.9% in the fourth quarter. First Trust Advisors LP now owns 43,016 shares of the information technology services provider's stock valued at $9,223,000 after acquiring an additional 18,842 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Globant by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,922 shares of the information technology services provider's stock valued at $115,778,000 after acquiring an additional 32,534 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in Globant by 30.4% in the fourth quarter. MML Investors Services LLC now owns 8,359 shares of the information technology services provider's stock valued at $1,792,000 after acquiring an additional 1,947 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Upgrades and Downgrades

GLOB has been the topic of several analyst reports. JPMorgan Chase & Co. cut shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 target price on the stock. in a report on Friday, August 15th. Guggenheim reaffirmed a "buy" rating and issued a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Needham & Company LLC reduced their target price on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Finally, The Goldman Sachs Group reduced their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Globant has an average rating of "Moderate Buy" and an average target price of $139.47.

Globant Stock Performance

Shares of Globant stock traded up $2.2090 during trading on Friday, reaching $69.6890. The company's stock had a trading volume of 2,014,695 shares, compared to its average volume of 2,069,612. The company has a 50-day moving average price of $84.49 and a two-hundred day moving average price of $114.41. The firm has a market cap of $3.07 billion, a PE ratio of 28.33, a P/E/G ratio of 3.00 and a beta of 1.16. Globant S.A. has a fifty-two week low of $64.51 and a fifty-two week high of $238.32. The company has a current ratio of 1.71, a quick ratio of 1.56 and a debt-to-equity ratio of 0.19.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. The business had revenue of $614.18 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, analysts forecast that Globant S.A. will post 5.73 EPS 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.