Cambridge Investment Research Advisors Inc. Takes $346,000 Position in Globant S.A. (NYSE:GLOB)

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

Several other large investors also recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd purchased a new stake in Globant in the fourth quarter worth about $81,000. Farther Finance Advisors LLC lifted its holdings 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 worth $45,000 after buying an additional 252 shares during the period. Huntington National Bank lifted its holdings in shares of Globant by 51.5% during the fourth quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock valued at $99,000 after purchasing an additional 157 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Globant by 262.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock valued at $121,000 after purchasing an additional 407 shares during the last quarter. Finally, Blue Trust Inc. lifted 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 valued at $71,000 after purchasing an additional 116 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho set a $153.00 price target on shares of Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Scotiabank cut their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and cut their price objective for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Finally, Susquehanna decreased their price target 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. Eight equities 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, Globant has an average rating of "Moderate Buy" and a consensus price target of $174.94.

Globant Stock Performance

Shares of GLOB opened at $85.29 on Friday. Globant S.A. has a 12 month low of $85.00 and a 12 month high of $238.32. The stock has a fifty day moving average price of $101.65 and a 200-day moving average price of $142.45. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.76 billion, a PE ratio of 25.23, a P/E/G ratio of 2.69 and a beta of 1.20.

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

Globant Company 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.

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