Groupe la Francaise Buys Shares of 8,954 Globant S.A. $GLOB

Key Points

• Groupe la Francaise acquired a stake in Globant S.A. valued at approximately $1.13 million, purchasing 8,954 shares in the first quarter.
• Globant has reported earnings of $1.53 per share, slightly exceeding expectations, and saw a 4.5% increase in revenue compared to the previous year.
• Analysts have mixed sentiments on Globant, with price targets ranging from $105.00 to $153.00, indicating a consensus rating of "Moderate Buy."

Groupe la Francaise acquired a new position in Globant S.A. (NYSE:GLOB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,954 shares of the information technology services provider's stock, valued at approximately $1,132,000.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in 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 worth $15,868,000 after purchasing an additional 8,599 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Globant by 23.7% during the first quarter. Cetera Investment Advisers now owns 24,926 shares of the information technology services provider's stock worth $2,934,000 after acquiring an additional 4,774 shares during the period. Dalton Investments Inc. increased its position in shares of Globant by 58.6% during the first quarter. Dalton Investments Inc. now owns 31,654 shares of the information technology services provider's stock worth $3,726,000 after acquiring an additional 11,700 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Globant by 15.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider's stock worth $2,648,000 after acquiring an additional 2,967 shares during the period. Finally, Stephens Investment Management Group LLC increased its position in shares of Globant by 1.4% during the first quarter. Stephens Investment Management Group LLC now owns 291,410 shares of the information technology services provider's stock worth $34,305,000 after acquiring an additional 3,943 shares during the period. Institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GLOB shares. The Goldman Sachs Group reduced their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. UBS Group reduced their target price on shares of Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Finally, Needham & Company LLC reduced their target price on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Globant has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

Globant Stock Down 0.5%

GLOB stock traded down $0.33 during trading on Thursday, hitting $67.49. 984,508 shares of the company's stock traded hands, compared to its average volume of 1,167,529. The firm has a market capitalization of $2.97 billion, a P/E ratio of 27.43, a PEG ratio of 2.97 and a beta of 1.16. The business has a fifty day simple moving average of $82.61 and a two-hundred day simple moving average of $110.99. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a 1 year low of $64.51 and a 1 year high of $238.32.

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