Stephens Investment Management Group LLC Boosts Stock Position in Globant S.A. (NYSE:GLOB)

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Physician Wealth Advisors Inc. raised its stake 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 worth $31,000 after purchasing an additional 155 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Globant during the first quarter valued at approximately $39,000. Farther Finance Advisors LLC increased its position in shares of Globant by 186.7% during 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. Blue Trust Inc. increased its position in shares of Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock valued at $71,000 after acquiring an additional 116 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Globant during the fourth quarter valued at approximately $81,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GLOB. Piper Sandler downgraded Globant from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Needham & Company LLC decreased their price target on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Guggenheim reaffirmed a "buy" rating and set a $125.00 price target on shares of Globant in a research report on Tuesday, June 10th. 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 report on Tuesday, April 29th. Finally, Mizuho set a $153.00 price target on Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.94.

Globant Stock Performance

NYSE:GLOB traded down $0.76 during trading hours on Monday, reaching $84.46. The stock had a trading volume of 189,123 shares, compared to its average volume of 736,416. 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 stock has a 50 day simple moving average of $101.65 and a 200 day simple moving average of $141.36. Globant S.A. has a 12-month low of $83.90 and a 12-month high of $238.32. The stock has a market cap of $3.72 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.20.

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