Dynamic Technology Lab Private Ltd Purchases New Stake in Globant S.A. $GLOB

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Globant S.A. by purchasing 20,410 shares valued at approximately $2.4 million in the first quarter.
• Institutional investors collectively own 91.60% of Globant's stock, with firms like Invesco and Royal Bank of Canada significantly increasing their positions during the same period.
• Globant reported $1.53 earnings per share for the last quarter, surpassing analysts' expectations and indicating a revenue increase of 4.5% compared to the previous year.

Dynamic Technology Lab Private Ltd bought a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 20,410 shares of the information technology services provider's stock, valued at approximately $2,403,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLOB. Invesco Ltd. raised its position in shares of Globant by 764.3% during the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock valued at $111,271,000 after acquiring an additional 835,859 shares during the last quarter. Royal Bank of Canada raised its position in shares of Globant by 293.5% during the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider's stock valued at $117,716,000 after acquiring an additional 745,848 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Globant by 209.0% during the 1st quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider's stock valued at $96,583,000 after acquiring an additional 554,938 shares during the last quarter. Nuveen LLC bought a new stake in shares of Globant during the 1st quarter valued at $58,163,000. Finally, Manning & Napier Advisors LLC raised its position in shares of Globant by 86.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider's stock valued at $106,850,000 after acquiring an additional 420,382 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Stock Up 0.8%

Shares of GLOB stock opened at $62.88 on Friday. The firm has a fifty day moving average of $79.60 and a 200-day moving average of $103.68. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a 12-month low of $61.57 and a 12-month high of $238.32. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 25.56, a P/E/G ratio of 2.78 and a beta of 1.17.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.44% and a return on equity of 10.76%. The company had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities research analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group dropped their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. UBS Group reduced their price target on shares of Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, July 17th. They set a "hold" rating and a $87.00 price target on the stock. Finally, Scotiabank raised Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a research report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $139.47.

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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