2,943 Shares in Globant S.A. (NYSE:GLOB) Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. purchased a new position in shares of Globant S.A. (NYSE:GLOB - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,943 shares of the information technology services provider's stock, valued at approximately $346,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GLOB. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Globant during the fourth quarter valued at approximately $81,000. Farther Finance Advisors LLC increased its stake in Globant by 186.7% during the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after buying an additional 252 shares during the period. Huntington National Bank increased its stake in Globant by 51.5% during the 4th quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock valued at $99,000 after buying an additional 157 shares during the period. Tower Research Capital LLC TRC increased its stake in Globant by 262.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock valued at $121,000 after buying an additional 407 shares during the period. Finally, Blue Trust Inc. increased its stake in Globant by 23.6% during the 1st 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 period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GLOB shares. Scotiabank lowered their price objective 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. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Needham & Company LLC lowered their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $97.00 price objective (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Globant Price Performance

Shares of GLOB traded down $1.06 on Tuesday, hitting $82.69. The company's stock had a trading volume of 491,429 shares, compared to its average volume of 739,525. The company has a market capitalization of $3.64 billion, a PE ratio of 24.53, a PEG ratio of 2.62 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. Globant S.A. has a fifty-two week low of $82.75 and a fifty-two week high of $238.32. The company has a 50 day moving average price of $100.97 and a 200 day moving average price of $140.43.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.16% and a return on equity of 11.08%. The company's revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 EPS. On average, research analysts anticipate 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.