Stephens Investment Management Group LLC Purchases 3,943 Shares of Globant S.A. (NYSE:GLOB)

Stephens Investment Management Group LLC increased its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 291,410 shares of the information technology services provider's stock after purchasing an additional 3,943 shares during the period. Stephens Investment Management Group LLC owned approximately 0.66% of Globant worth $34,305,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after buying an additional 203,472 shares during the last quarter. Capital International Investors grew its position in Globant by 13.1% during the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after acquiring an additional 197,064 shares during the last quarter. Manning & Napier Advisors LLC grew its position in Globant by 86.3% during the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider's stock worth $106,850,000 after acquiring an additional 420,382 shares during the last quarter. Sei Investments Co. grew its position in Globant by 3.5% during the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock worth $129,252,000 after acquiring an additional 20,365 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Globant by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 560,747 shares of the information technology services provider's stock worth $120,235,000 after acquiring an additional 27,140 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLOB. Mizuho set a $153.00 price target on Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. The Goldman Sachs Group lowered Globant from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $225.00 to $120.00 in a research report on Friday, May 16th. Susquehanna decreased their price target on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group restated a "hold" rating and set a $97.00 price target (down from $165.00) on shares of Globant in a research report on Thursday, June 26th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $174.94.

Globant Trading Up 2.5%

GLOB stock traded up $2.07 during midday trading on Wednesday, reaching $84.54. The company's stock had a trading volume of 1,246,440 shares, compared to its average volume of 744,807. Globant S.A. has a 52 week low of $82.39 and a 52 week high of $238.32. The stock has a market cap of $3.72 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.54 and a beta of 1.20. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $100.22 and its 200-day simple moving average is $140.03.

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