Citigroup Inc. Acquires 22,776 Shares of Globant S.A. (NYSE:GLOB)

Citigroup Inc. boosted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 18.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,185 shares of the information technology services provider's stock after purchasing an additional 22,776 shares during the quarter. Citigroup Inc. owned about 0.33% of Globant worth $16,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its holdings in Globant by 140.9% in the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 155 shares during the last quarter. Bessemer Group Inc. bought a new stake in Globant in the first quarter valued at about $39,000. Farther Finance Advisors LLC increased 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 valued at $45,000 after purchasing an additional 252 shares during the last quarter. Signaturefd LLC increased its holdings in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 89 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Globant by 262.6% in 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. Institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim reiterated a "buy" rating and issued a $125.00 price objective on shares of Globant in a report on Tuesday, June 10th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Mizuho set a $153.00 target price on Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Scotiabank raised Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price for the company in a research note on Monday, July 21st. Finally, The Goldman Sachs Group cut Globant from a "buy" rating to a "neutral" rating and decreased their target price for the company from $225.00 to $120.00 in a research note on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and a consensus price target of $153.56.

Globant Stock Down 14.8%

GLOB traded down $11.58 on Friday, hitting $66.54. 7,477,307 shares of the company were exchanged, compared to its average volume of 1,669,236. Globant S.A. has a 12 month low of $64.51 and a 12 month high of $238.32. The company has a market cap of $2.93 billion, a PE ratio of 27.05, a PEG ratio of 3.21 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The stock's fifty day moving average is $87.59 and its 200-day moving average is $120.01.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.01. Globant had a return on equity of 10.97% and a net margin of 4.44%. The business had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the prior year, the company posted $1.51 earnings per share. Globant's revenue was up 4.5% on a year-over-year basis. Equities research analysts predict that Globant S.A. will post 5.73 EPS 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.