Park Avenue Securities LLC Makes New Investment in Globant S.A. $GLOB

Key Points

• Park Avenue Securities LLC recently purchased 6,142 shares of Globant S.A. valued at approximately $558,000, marking a significant investment in the company during the second quarter.
• Globant has received multiple ratings updates from analysts, with a consensus target price of $139.47 and eight analysts rating it as a "Buy."
• In its latest quarterly earnings report, Globant beat earnings expectations with an EPS of $1.53 and reported a 4.5% revenue increase year-over-year, totaling $614.18 million.

Park Avenue Securities LLC bought a new position in shares of Globant S.A. (NYSE:GLOB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,142 shares of the information technology services provider's stock, valued at approximately $558,000.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group boosted its position in shares of Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock worth $25,000 after acquiring an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Globant during the 1st quarter worth approximately $39,000. Farther Finance Advisors LLC boosted its position in shares of 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 acquiring an additional 252 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Scotiabank upgraded shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, July 17th. They set a "hold" rating and a $87.00 price target on the stock. Needham & Company LLC dropped their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Canaccord Genuity Group reissued a "hold" rating and issued a $97.00 price objective (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Finally, Guggenheim reissued a "buy" rating and issued a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $139.47.

Globant Price Performance

GLOB stock opened at $57.96 on Monday. The company has a fifty day moving average price of $70.27 and a 200-day moving average price of $93.87. The company has a market capitalization of $2.55 billion, a P/E ratio of 23.56, a PEG ratio of 2.55 and a beta of 1.17. Globant S.A. has a 52-week low of $54.36 and a 52-week high of $238.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) 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 the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities analysts expect that Globant S.A. will post 5.73 EPS 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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