Mirae Asset Global Investments Co. Ltd. Sells 18,233 Shares of Globant S.A. $GLOB

Key Points

• Mirae Asset Global Investments Co. Ltd. has significantly reduced its stake in Globant S.A. by 81.1%, selling 18,233 shares and leaving it with only 4,260 shares valued at approximately $387,000.
• Recent analyst reports show fluctuating target prices for Globant, with Canaccord Genuity setting a target of $97.00 and Goldman Sachs adjusting theirs down to $90.00, contributing to a consensus rating of "Hold."
• Globant's Board of Directors has approved a $125 million stock buyback plan, indicating confidence in the company's undervalued stock as they aim to repurchase up to 5% of its shares.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Globant S.A. (NYSE:GLOB - Free Report) by 81.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,260 shares of the information technology services provider's stock after selling 18,233 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Globant were worth $387,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Globant by 194.4% in the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock valued at $25,000 after purchasing an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in Globant by 140.9% in the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Bessemer Group Inc. bought a new position in Globant in the first quarter valued at approximately $39,000. Farther Finance Advisors LLC grew its stake in Globant by 186.7% in the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 252 shares in the last quarter. Finally, Signaturefd LLC grew its stake 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 purchasing an additional 89 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several research analyst reports. Canaccord Genuity Group reiterated a "hold" rating and set a $97.00 target price (down from $165.00) on shares of Globant in a research note on Thursday, June 26th. The Goldman Sachs Group reduced their target price on Globant from $105.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday. Needham & Company LLC reduced their target price on Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Scotiabank upgraded Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price for the company in a research note on Monday, July 21st. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Globant in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $138.47.

Globant Price Performance

Shares of NYSE GLOB opened at $57.52 on Friday. The stock has a market capitalization of $2.53 billion, a PE ratio of 23.38, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The business has a fifty day moving average price of $64.38 and a two-hundred day moving average price of $89.34. Globant S.A. has a fifty-two week low of $54.36 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $614.18 million during the quarter, compared to analysts' expectations of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has authorized a stock buyback plan on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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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