Globant S.A. (NYSE:GLOB) Shares Acquired by NBC Securities Inc.

NBC Securities Inc. boosted its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 105,550.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,226 shares of the information technology services provider's stock after acquiring an additional 4,222 shares during the quarter. NBC Securities Inc.'s holdings in Globant were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC raised its holdings in Globant by 132.9% during the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock valued at $4,467,000 after buying an additional 12,862 shares during the period. JPMorgan Chase & Co. increased its position in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock valued at $469,316,000 after acquiring an additional 153,385 shares during the last quarter. Bleakley Financial Group LLC purchased a new stake in shares of Globant in the fourth quarter valued at $608,000. Stephens Investment Management Group LLC raised its stake in shares of Globant by 7.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 287,467 shares of the information technology services provider's stock valued at $61,639,000 after acquiring an additional 18,889 shares during the period. Finally, Stephens Inc. AR lifted its holdings in shares of Globant by 9.1% in the 4th quarter. Stephens Inc. AR now owns 2,769 shares of the information technology services provider's stock worth $594,000 after acquiring an additional 230 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GLOB. Mizuho set a $153.00 price objective on shares of Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. Susquehanna cut their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Scotiabank decreased their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Canaccord Genuity Group dropped their price objective on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. Finally, Piper Sandler downgraded Globant from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Globant currently has an average rating of "Moderate Buy" and a consensus target price of $179.19.

Globant Price Performance

NYSE GLOB traded up $1.34 during trading on Friday, reaching $100.73. 635,787 shares of the company's stock traded hands, compared to its average volume of 699,294. Globant S.A. has a 12-month low of $88.03 and a 12-month high of $238.32. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.38 and a beta of 1.24. The company's 50 day simple moving average is $110.62 and its two-hundred day simple moving average is $165.85.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.08). The business had revenue of $611.09 million for the quarter, compared to analysts' expectations of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.53 earnings per share. Research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant 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.