Neuberger Berman Group LLC Increases Stake in Globant S.A. (NYSE:GLOB)

Key Points

• Neuberger Berman Group LLC increased its stake in Globant S.A. by 113.5% in the first quarter, now owning approximately $2.48 million worth of shares.
• Several institutional investors have significantly boosted their positions in Globant, with Physician Wealth Advisors Inc. leading with a 140.9% increase, indicating strong institutional interest in the stock.
• Globant reported quarterly earnings of $1.53 EPS, surpassing expectations, with revenue of $614.18 million, reflecting a 4.5% increase year-over-year.

Neuberger Berman Group LLC grew its stake in Globant S.A. (NYSE:GLOB - Free Report) by 113.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 20,930 shares of the information technology services provider's stock after buying an additional 11,129 shares during the quarter. Neuberger Berman Group LLC's holdings in Globant were worth $2,477,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GLOB. Physician Wealth Advisors Inc. boosted its stake in shares of Globant by 140.9% in the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after buying an additional 155 shares during the period. Bessemer Group Inc. purchased a new stake in Globant during the first quarter worth approximately $39,000. Farther Finance Advisors LLC lifted its stake in Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock worth $45,000 after purchasing an additional 252 shares during the last quarter. Signaturefd LLC lifted its stake in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 89 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in 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 last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GLOB. Guggenheim restated a "buy" rating and set a $125.00 target price on shares of Globant in a research note on Tuesday, June 10th. Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Needham & Company LLC dropped their target price on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Scotiabank raised Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective on the stock in a report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, July 17th. They set a "hold" rating and a $87.00 price target for the company. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and an average target price of $165.69.

Globant Stock Performance

NYSE GLOB opened at $78.00 on Friday. The business's 50-day moving average price is $88.27 and its 200 day moving average price is $120.99. Globant S.A. has a twelve month low of $73.98 and a twelve month high of $238.32. The company has a market capitalization of $3.43 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.27 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.

Globant (NYSE:GLOB - Get Free Report) last released 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. The company had revenue of $614.18 million for the quarter, compared to the consensus estimate of $612.66 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The company's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $1.51 EPS. On average, research analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

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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