Hsbc Holdings PLC Purchases 5,344 Shares of Globant S.A. $GLOB

Key Points

• Hsbc Holdings PLC raised its stake in Globant S.A. by 9.1% during Q1, now owning 64,029 shares valued at approximately $7.5 million.
• Several institutional investors, including Victory Capital Management and Invesco Ltd., significantly increased their holdings in Globant over the same period, with institutional ownership now at 91.60%.
• Globant reported an earnings per share of $1.53 for the most recent quarter, exceeding analysts' expectations, with revenue also surpassing consensus estimates at $614.18 million.

Hsbc Holdings PLC lifted its position in Globant S.A. (NYSE:GLOB - Free Report) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,029 shares of the information technology services provider's stock after buying an additional 5,344 shares during the period. Hsbc Holdings PLC owned about 0.15% of Globant worth $7,493,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GLOB. Invesco Ltd. increased its position in shares of Globant by 764.3% in the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock valued at $111,271,000 after buying an additional 835,859 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Globant by 209.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider's stock worth $96,583,000 after purchasing an additional 554,938 shares during the period. Nuveen LLC acquired a new position in Globant in the 1st quarter worth $58,163,000. Manning & Napier Advisors LLC boosted its stake in Globant by 86.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider's stock worth $106,850,000 after purchasing an additional 420,382 shares during the period. Finally, Polen Capital Management LLC boosted its stake in Globant by 22.0% in the 1st quarter. Polen Capital Management LLC now owns 774,418 shares of the information technology services provider's stock worth $91,164,000 after purchasing an additional 139,894 shares during the period. Institutional investors own 91.60% of the company's stock.

Globant Stock Down 0.4%

Shares of Globant stock traded down $0.25 during trading hours on Friday, reaching $67.20. 1,050,039 shares of the company's stock were exchanged, compared to its average volume of 2,040,844. The company has a 50 day moving average of $82.20 and a two-hundred day moving average of $109.21. Globant S.A. has a fifty-two week low of $64.51 and a fifty-two week high of $238.32. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.96 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.98 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLOB. The Goldman Sachs Group reduced their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a research note 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 for the company in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, July 17th. They issued a "hold" rating and a $87.00 target price for the company. Needham & Company LLC reduced their target price on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $125.00 target price on shares of Globant in a research note on Tuesday, June 10th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

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.