Globant S.A. $GLOB Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Globant S.A. by 73.7%, owning approximately 1.25% of the company worth $64.67 million after purchasing 233,145 shares during the first quarter.
• Several institutional investors, including Invesco Ltd. which raised its holdings by 764.3%, and Manning & Napier Advisors LLC with an 86.3% increase, have significantly boosted their positions in Globant, indicating strong institutional confidence in the company.
• Analysts currently rate Globant with an average of "Moderate Buy", and the company's consensus price target stands at $139.47, though individual ratings vary from "buy" to "hold."

T. Rowe Price Investment Management Inc. grew its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 73.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 549,328 shares of the information technology services provider's stock after acquiring an additional 233,145 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.25% of Globant worth $64,667,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Globant by 6.8% in the 1st quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider's stock valued at $15,868,000 after acquiring an additional 8,599 shares during the period. Cetera Investment Advisers increased its stake in Globant by 23.7% during the 1st quarter. Cetera Investment Advisers now owns 24,926 shares of the information technology services provider's stock worth $2,934,000 after buying an additional 4,774 shares during the period. Dalton Investments Inc. increased its stake in Globant by 58.6% during the 1st quarter. Dalton Investments Inc. now owns 31,654 shares of the information technology services provider's stock worth $3,726,000 after buying an additional 11,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Globant by 15.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider's stock worth $2,648,000 after buying an additional 2,967 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in Globant by 1.4% during the 1st quarter. Stephens Investment Management Group LLC now owns 291,410 shares of the information technology services provider's stock worth $34,305,000 after buying an additional 3,943 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GLOB shares. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a research note on Monday, July 21st. Guggenheim reaffirmed a "buy" rating and set a $125.00 price target on shares of Globant in a research note on Tuesday, June 10th. Finally, UBS Group dropped their price target on shares of Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and a consensus price target of $139.47.

Globant Stock Up 1.2%

GLOB stock traded up $0.80 during mid-day trading on Wednesday, hitting $67.88. 1,173,930 shares of the company were exchanged, compared to its average volume of 1,164,583. The company has a market capitalization of $2.99 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 3.01 and a beta of 1.16. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a twelve month low of $64.51 and a twelve month high of $238.32. The firm has a fifty day simple moving average of $83.43 and a 200 day simple moving average of $112.33.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.01. The company had revenue of $614.18 million during the quarter, compared to analyst estimates of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, research analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.