Hussman Strategic Advisors Inc. Takes Position in Globant S.A. (NYSE:GLOB)

Hussman Strategic Advisors Inc. acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,200 shares of the information technology services provider's stock, valued at approximately $2,967,000. Globant comprises 0.7% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 29th largest position. Hussman Strategic Advisors Inc. owned about 0.06% of Globant as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Congress Wealth Management LLC DE raised its holdings in Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after acquiring an additional 76 shares in the last quarter. Signaturefd LLC raised its holdings in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after acquiring an additional 89 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Globant by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock worth $3,965,000 after purchasing an additional 110 shares during the period. Blue Trust Inc. raised its holdings 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 during the period. Finally, Commerce Bank raised its holdings in shares of Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group lowered shares of Globant from a "buy" rating to a "neutral" rating and decreased their target price for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Mizuho set a $153.00 target price on shares of Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Canaccord Genuity Group reiterated a "hold" rating and issued a $97.00 target price (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Needham & Company LLC reduced their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.25.

Globant Stock Down 0.9%

Shares of NYSE GLOB traded down $0.73 during midday trading on Friday, hitting $84.45. 78,305 shares of the stock traded hands, compared to its average volume of 744,794. The company has a market cap of $3.72 billion, a PE ratio of 24.87, a P/E/G ratio of 2.61 and a beta of 1.20. Globant S.A. has a one year low of $82.39 and a one year high of $238.32. The business has a 50 day moving average price of $98.55 and a two-hundred day moving average price of $138.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56.

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 the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The business had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. During the same period in the prior year, the firm posted $1.53 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts predict 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.

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