Envestnet Asset Management Inc. Has $33.39 Million Position in Globant S.A. (NYSE:GLOB)

Envestnet Asset Management Inc. boosted its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 3.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 283,621 shares of the information technology services provider's stock after buying an additional 10,416 shares during the quarter. Envestnet Asset Management Inc. owned about 0.64% of Globant worth $33,388,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Globant by 6.8% in the first quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider's stock valued at $15,868,000 after purchasing an additional 8,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position 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 last quarter. Raymond James Financial Inc. acquired a new stake in shares of Globant in the fourth quarter valued at about $16,737,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Globant in the first quarter valued at about $346,000. Finally, Bank of America Corp DE grew its position in shares of Globant by 7.5% in the fourth quarter. Bank of America Corp DE now owns 440,039 shares of the information technology services provider's stock valued at $94,353,000 after purchasing an additional 30,785 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

GLOB traded up $0.61 during midday trading on Thursday, reaching $85.22. 1,119,028 shares of the company's stock were exchanged, compared to its average volume of 747,284. Globant S.A. has a one year low of $82.39 and a one year high of $238.32. The business has a 50-day simple moving average of $98.55 and a two-hundred day simple moving average of $138.73. 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 firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 2.61 and a beta of 1.20.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results 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 firm had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same quarter last year, the firm posted $1.53 EPS. The business's revenue was up 7.0% on a year-over-year basis. As a group, research analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday. They issued a "hold" rating and a $87.00 target price for the company. Mizuho set a $153.00 target price on shares of Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. The Goldman Sachs Group cut shares of 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. Finally, Susquehanna reduced their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Globant has an average rating of "Moderate Buy" and a consensus target price of $167.25.

Globant Company 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.