Squarepoint Ops LLC Trims Stock Position in Globant S.A. (NYSE:GLOB)

Squarepoint Ops LLC decreased its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 61.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,873 shares of the information technology services provider's stock after selling 58,039 shares during the period. Squarepoint Ops LLC owned 0.09% of Globant worth $7,906,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Globant in the fourth quarter worth approximately $38,000. Kestra Investment Management LLC purchased a new stake in shares of Globant in the fourth quarter worth approximately $38,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant in the fourth quarter worth approximately $45,000. Promus Capital LLC purchased a new stake in shares of Globant in the fourth quarter worth approximately $64,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Globant in the fourth quarter worth approximately $81,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler downgraded Globant from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $154.00 to $116.00 in a report on Friday, May 16th. Susquehanna reduced their price objective on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Canaccord Genuity Group reduced their price objective on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. Finally, UBS Group reduced their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Globant currently has an average rating of "Moderate Buy" and an average price target of $179.19.

Globant Stock Down 0.8%

Shares of Globant stock traded down $0.78 during trading on Thursday, reaching $98.12. The company's stock had a trading volume of 299,843 shares, compared to its average volume of 686,917. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 26.38, a P/E/G ratio of 2.38 and a beta of 1.37. Globant S.A. has a 1-year low of $88.03 and a 1-year high of $238.32. The company has a 50-day simple moving average of $113.92 and a two-hundred day simple moving average of $171.07.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. During the same period in the previous year, the business earned $1.53 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, 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.