Oppenheimer & Co. Inc. Has $1.61 Million Position in Globant S.A. (NYSE:GLOB)

Oppenheimer & Co. Inc. increased its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 78.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,680 shares of the information technology services provider's stock after purchasing an additional 6,015 shares during the period. Oppenheimer & Co. Inc.'s holdings in Globant were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GLOB. Promus Capital LLC acquired a new position in Globant in the 4th quarter valued at $64,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Globant in the 4th quarter valued at $81,000. Farther Finance Advisors LLC raised its holdings in Globant by 186.7% in the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 252 shares in the last quarter. Huntington National Bank raised its holdings in Globant by 51.5% in the 4th quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock valued at $99,000 after acquiring an additional 157 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Globant by 262.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock valued at $121,000 after acquiring an additional 407 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GLOB. The Goldman Sachs Group cut Globant from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $225.00 to $120.00 in a report on Friday, May 16th. Piper Sandler lowered Globant from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $154.00 to $116.00 in a research note on Friday, May 16th. Susquehanna decreased their price target on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Mizuho set a $153.00 price target on Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Guggenheim reiterated a "buy" rating and issued a $125.00 price target on shares of Globant in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.94.

Globant Trading Down 0.3%

Shares of GLOB stock opened at $91.21 on Friday. The firm has a market capitalization of $4.02 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.77 and a beta of 1.24. Globant S.A. has a twelve month low of $86.02 and a twelve month high of $238.32. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The stock's fifty day simple moving average is $106.49 and its 200 day simple moving average is $151.37.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The firm had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The company's revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. As a group, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal 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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