Oppenheimer & Co. Inc. Purchases 6,015 Shares of Globant S.A. (NYSE:GLOB)

Oppenheimer & Co. Inc. grew its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 78.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,680 shares of the information technology services provider's stock after acquiring an additional 6,015 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Globant were worth $1,610,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GLOB. Farther Finance Advisors LLC increased its holdings in Globant by 186.7% during the 1st 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 in the last quarter. Promus Capital LLC bought a new stake in shares of Globant in the fourth quarter valued at about $64,000. Blue Trust Inc. boosted its position in shares of 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 buying an additional 116 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Globant during the fourth quarter worth about $81,000. Finally, Huntington National Bank grew its holdings in shares of Globant by 51.5% during the fourth quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock worth $99,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Scotiabank reduced their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Susquehanna cut their price objective on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $97.00 target price (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Mizuho set a $153.00 price target on shares of Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.94.

Globant Stock Performance

NYSE GLOB traded up $1.56 during trading on Tuesday, reaching $92.40. 892,796 shares of the company's stock were exchanged, compared to its average volume of 726,619. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The business has a 50 day moving average price of $105.97 and a 200-day moving average price of $149.13. The stock has a market capitalization of $4.07 billion, a P/E ratio of 27.34, a PEG ratio of 1.76 and a beta of 1.20. Globant S.A. has a fifty-two week low of $86.02 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results 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). Globant had a return on equity of 11.08% and a net margin of 6.16%. The business had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share 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.