Globant S.A. $GLOB Stock Position Lifted by Bank of America Corp DE

Key Points

• Bank of America increased its Globant position by 12.9% in the first quarter, adding 47,110 shares to own 413,210 shares valued at approximately $19.1 million. Institutional investors collectively hold 91.6% of the company.
• Globant reported quarterly EPS of $1.40, missing the $1.50 consensus estimate, while revenue of $614.42 million slightly exceeded forecasts. The company authorized a $50 million share-repurchase program, covering up to 2.9% of outstanding shares.
• Analyst sentiment remains mixed: five analysts rate the stock a Buy, eleven a Hold, and one a Sell, resulting in a consensus Hold rating and an average price target of $46.38. Shares recently opened at $39.65, well below the 12-month high of $72.10.

Bank of America Corp DE grew its position in Globant S.A. (NYSE:GLOB - Free Report) by 12.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413,210 shares of the information technology services provider's stock after acquiring an additional 47,110 shares during the quarter. Bank of America Corp DE owned approximately 0.94% of Globant worth $19,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its stake in Globant by 473.3% during the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 407 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Globant by 561.2% in the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider's stock worth $45,000 after buying an additional 578 shares during the last quarter. MidFirst Bank acquired a new position in shares of Globant in the 4th quarter valued at about $47,000. State of Wyoming boosted its holdings in shares of Globant by 78.9% in the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider's stock valued at $80,000 after buying an additional 389 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Globant by 77.4% during the 4th quarter. Advisors Asset Management Inc. now owns 912 shares of the information technology services provider's stock valued at $60,000 after buying an additional 398 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Performance

Shares of NYSE GLOB opened at $39.65 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $33.80 and a 200-day simple moving average of $41.50. The company has a market cap of $1.74 billion, a PE ratio of 15.55, a P/E/G ratio of 2.31 and a beta of 1.02. Globant S.A. has a 12-month low of $27.56 and a 12-month high of $72.10.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.10). The business had revenue of $614.42 million during the quarter, compared to analyst estimates of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The firm's revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 earnings per share. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. On average, equities research analysts forecast that Globant S.A. will post 4.81 EPS for the current year.

Globant announced that its board has approved a share repurchase program on Monday, May 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

GLOB has been the subject of several recent research reports. TD Cowen lowered their target price on Globant from $47.00 to $45.00 and set a "buy" rating for the company in a report on Friday, August 14th. Wedbush downgraded Globant from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $54.00 to $37.00 in a report on Friday, August 14th. Canaccord Genuity Group set a $35.00 price objective on Globant in a research report on Friday, August 14th. Guggenheim lowered their price objective on Globant from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. dropped their target price on Globant from $47.00 to $44.00 and set a "neutral" rating on the stock in a research report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $46.38.

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant's service offerings span strategy consulting, custom software engineering, digital experience design and managed services.

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