Globant S.A. (NYSE:GLOB) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Globant S.A. by 23.7% during the first quarter, now owning approximately 0.06% of the company valued at $2.93 million.
• Globant's shares have experienced a 3.1% decline, with current trading at $79.49, while reaching a 52-week high of $238.32 earlier.
• The company reported earnings per share (EPS) of $1.50 for the last quarter, which fell short of the consensus estimate by $0.08, amid a revenue of $611.09 million.

Cetera Investment Advisers boosted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,926 shares of the information technology services provider's stock after acquiring an additional 4,774 shares during the period. Cetera Investment Advisers owned 0.06% of Globant worth $2,934,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Globant by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider's stock worth $15,868,000 after purchasing an additional 8,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Globant by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider's stock valued at $2,648,000 after purchasing an additional 2,967 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Globant by 1.4% during the first 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 in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Globant during the first quarter worth about $346,000. Finally, Bank of America Corp DE grew its position in Globant by 7.5% during the fourth quarter. Bank of America Corp DE now owns 440,039 shares of the information technology services provider's stock worth $94,353,000 after buying an additional 30,785 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Down 3.1%

Shares of NYSE GLOB opened at $79.49 on Wednesday. Globant S.A. has a 52-week low of $78.30 and a 52-week high of $238.32. 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 business has a fifty day moving average of $91.17 and a two-hundred day moving average of $126.77. The stock has a market cap of $3.50 billion, a PE ratio of 23.52, a PEG ratio of 3.37 and a beta of 1.16.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The company had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. During the same period last year, the company earned $1.53 earnings per share. Globant's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several research reports. Susquehanna cut their price target on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Guggenheim restated a "buy" rating and set a $125.00 target price on shares of Globant in a research report on Tuesday, June 10th. Mizuho set a $153.00 price target on shares of Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Needham & Company LLC dropped their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Finally, The Goldman Sachs Group lowered Globant from a "buy" rating to a "neutral" rating and reduced their target price for the company from $225.00 to $120.00 in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $165.69.

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.

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