Northern Trust Corp Buys 8,036 Shares of Globant S.A. $GLOB

Northern Trust Corp boosted its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,671 shares of the information technology services provider's stock after buying an additional 8,036 shares during the quarter. Northern Trust Corp owned approximately 0.36% of Globant worth $18,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in Globant by 6.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,704,973 shares of the information technology services provider's stock worth $200,709,000 after purchasing an additional 98,863 shares in the last quarter. Invesco Ltd. raised its holdings in Globant by 764.3% in the 1st quarter. Invesco Ltd. now owns 945,215 shares of the information technology services provider's stock worth $111,271,000 after purchasing an additional 835,859 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings 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 in the last quarter. Westfield Capital Management Co. LP raised its holdings 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 in the last quarter. Finally, Polen Capital Management LLC raised its holdings 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 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 reports. The Goldman Sachs Group decreased their price objective on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Canaccord Genuity Group restated a "hold" rating and issued a $97.00 price objective (down from $165.00) on shares of Globant in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price objective for the company. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $154.00 to $116.00 in a report on Friday, May 16th. Finally, Mizuho set a $153.00 target price on shares of Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $139.47.

Globant Stock Up 0.8%

Shares of NYSE:GLOB traded up $0.53 during midday trading on Friday, reaching $62.88. The company's stock had a trading volume of 1,609,593 shares, compared to its average volume of 1,837,002. The firm has a 50 day moving average of $79.60 and a 200-day moving average of $103.68. The firm has a market capitalization of $2.77 billion, a P/E ratio of 25.56, a PEG ratio of 2.78 and a beta of 1.17. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a 12-month low of $61.57 and a 12-month 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 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $612.66 million. During the same period in the prior year, the firm posted $1.51 EPS. Globant's revenue for the quarter 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, research analysts anticipate that Globant S.A. will post 5.73 earnings per share 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.