Invesco Ltd. Buys 835,859 Shares of Globant S.A. $GLOB

Key Points

• Invesco Ltd. significantly increased its holdings in Globant S.A. by 764.3% during the first quarter, now owning approximately 2.15% of the company valued at $111.27 million.
• Globant reported a quarterly earnings per share of $1.53, slightly exceeding analysts' expectations, with revenue up 4.5% compared to the same quarter last year.
• The stock has seen recent analyst activity, with a consensus rating of "Moderate Buy" and an average price target of $153.56 from various analysts.

Invesco Ltd. increased its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 764.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 945,215 shares of the information technology services provider's stock after purchasing an additional 835,859 shares during the quarter. Invesco Ltd. owned approximately 2.15% of Globant worth $111,271,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. grew its position in shares of Globant by 140.9% during 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 in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Globant during the first quarter worth about $39,000. Farther Finance Advisors LLC grew 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 worth $45,000 after purchasing an additional 252 shares in the last quarter. Signaturefd LLC grew its position in shares of Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 89 shares in the last quarter. Finally, Blue Trust Inc. grew 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 worth $71,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GLOB shares. Scotiabank upgraded Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price for the company in a research report on Monday, July 21st. UBS Group cut their target price on Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Globant in a research report on Thursday, July 17th. They set a "hold" rating and a $87.00 target price for the company. Canaccord Genuity Group reiterated a "hold" rating and set a $97.00 target price (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. cut Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target for the company. in a report on Friday, August 15th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Globant has an average rating of "Moderate Buy" and a consensus target price of $139.47.

Globant Trading Down 0.2%

Shares of NYSE:GLOB traded down $0.1290 during trading on Thursday, hitting $67.4310. The company had a trading volume of 1,385,325 shares, compared to its average volume of 2,056,869. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 3.01 and a beta of 1.16. Globant S.A. has a one year low of $64.51 and a one year high of $238.32. The company has a fifty day simple moving average of $84.97 and a two-hundred day simple moving average of $116.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.56.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.01. The business had revenue of $614.18 million during the quarter, compared to analyst estimates of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

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.