Border to Coast Pensions Partnership Ltd Acquires 17,843 Shares of Globant S.A. $GLOB

Key Points

• Border to Coast Pensions Partnership Ltd increased its stake in Globant S.A. by 13.0% in Q2, owning approximately 0.35% of the company valued at about $14.07 million.
• Globant reported an earnings per share of $1.53 for the recent quarter, slightly exceeding analyst expectations and showing a 4.5% increase in revenue year-over-year.
• Recent analyst coverage saw various upgrades and downgrades, with a consensus rating of "Moderate Buy" and a target price around $139.47.

Border to Coast Pensions Partnership Ltd lifted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 13.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,837 shares of the information technology services provider's stock after purchasing an additional 17,843 shares during the period. Border to Coast Pensions Partnership Ltd owned 0.35% of Globant worth $14,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. increased its position in shares of 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 acquiring an additional 155 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Globant in the first quarter valued at about $39,000. Farther Finance Advisors LLC increased its position in shares of 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 acquiring an additional 252 shares during the last quarter. Finally, Signaturefd LLC increased its position in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after buying an additional 89 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLOB. JPMorgan Chase & Co. downgraded Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research report on Friday, August 15th. The Goldman Sachs Group decreased their target price on Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Needham & Company LLC decreased their target price on Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $97.00 target price (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Finally, Guggenheim reiterated a "buy" rating and issued a $125.00 price target on shares of Globant in a research note on Tuesday, June 10th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and an average price target of $139.47.

Globant Price Performance

NYSE GLOB traded up $0.50 on Monday, hitting $57.50. 2,221,995 shares of the company's stock were exchanged, compared to its average volume of 1,204,906. The stock has a 50-day moving average of $72.42 and a 200-day moving average of $95.96. 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 52 week low of $54.36 and a 52 week high of $238.32. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.51 and a beta of 1.17.

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