Lecap Asset Management Ltd. Makes New $1.86 Million Investment in Globant S.A. $GLOB

Key Points

• Lecap Asset Management Ltd. has made a new investment in Globant S.A., acquiring approximately $1.86 million worth of 20,420 shares during the second quarter.
• Globant reported a quarterly EPS of $1.53, surpassing analysts' expectations, with revenue of $614.18 million, marking a 4.5% year-over-year increase.
• The company has approved a $125 million stock buyback plan to reacquire up to 5% of its shares, indicating the board's belief that the stock is undervalued.

Lecap Asset Management Ltd. acquired a new position in Globant S.A. (NYSE:GLOB - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 20,420 shares of the information technology services provider's stock, valued at approximately $1,855,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Voya Investment Management LLC raised its position in shares of Globant by 49.0% in the first quarter. Voya Investment Management LLC now owns 462,422 shares of the information technology services provider's stock valued at $54,436,000 after purchasing an additional 152,152 shares during the period. Raymond James Financial Inc. raised its position in shares of Globant by 17.1% in the first quarter. Raymond James Financial Inc. now owns 91,427 shares of the information technology services provider's stock valued at $10,763,000 after purchasing an additional 13,369 shares during the period. Principal Financial Group Inc. raised its position in shares of 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 valued at $15,868,000 after purchasing an additional 8,599 shares during the period. Cetera Investment Advisers raised its position in shares of Globant by 23.7% in the first quarter. Cetera Investment Advisers now owns 24,926 shares of the information technology services provider's stock valued at $2,934,000 after purchasing an additional 4,774 shares during the period. Finally, Dalton Investments Inc. raised its position in shares of Globant by 58.6% in the first quarter. Dalton Investments Inc. now owns 31,654 shares of the information technology services provider's stock valued at $3,726,000 after purchasing an additional 11,700 shares during the period. Institutional investors own 91.60% of the company's stock.

Globant Price Performance

GLOB stock opened at $56.91 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. Globant S.A. has a one year low of $54.36 and a one year high of $238.32. The stock has a market cap of $2.51 billion, a PE ratio of 23.14, a P/E/G ratio of 2.52 and a beta of 1.17. The firm has a 50 day simple moving average of $68.46 and a two-hundred day simple moving average of $92.85.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results 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 business had revenue of $614.18 million during the quarter, compared to analysts' expectations of $612.66 million. During the same quarter in the previous year, the company earned $1.51 EPS. The business's quarterly revenue was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Globant declared that its board has approved a stock buyback plan on Wednesday, October 1st that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GLOB. JPMorgan Chase & Co. lowered shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research report on Friday, August 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price target on the stock. The Goldman Sachs Group decreased their target price on shares of Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. Needham & Company LLC decreased their target price on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Finally, Guggenheim reaffirmed a "buy" rating and set a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $139.47.

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.

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