Globant S.A. (NYSE:GLOB) Position Increased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 321.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,900 shares of the information technology services provider's stock after acquiring an additional 7,550 shares during the period. DekaBank Deutsche Girozentrale's holdings in Globant were worth $1,154,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Globant by 6.8% during the first quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider's stock worth $15,868,000 after purchasing an additional 8,599 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in 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 buying an additional 2,967 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Globant in the fourth quarter valued at $16,737,000. Cambridge Investment Research Advisors Inc. acquired a new position in Globant in the first quarter valued at $346,000. Finally, Bank of America Corp DE boosted its stake in 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 acquiring an additional 30,785 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GLOB. Scotiabank decreased 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. Susquehanna dropped their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Canaccord Genuity Group reissued a "hold" rating and set a $97.00 price objective (down from $165.00) on shares of Globant in a research note on Thursday, June 26th. Finally, The Goldman Sachs Group cut shares of Globant from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $225.00 to $120.00 in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $167.25.

Globant Stock Up 0.7%

GLOB stock traded up $0.61 during trading on Thursday, reaching $85.22. The stock had a trading volume of 1,119,028 shares, compared to its average volume of 747,284. Globant S.A. has a 1-year low of $82.39 and a 1-year high of $238.32. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.75 billion, a P/E ratio of 25.21, a PEG ratio of 2.61 and a beta of 1.20. The firm has a fifty day moving average price of $98.55 and a 200 day moving average price of $138.73.

Globant (NYSE:GLOB - Get Free Report) last released its 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 the consensus estimate of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. Globant's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. On average, equities analysts anticipate 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.