Quantitative Investment Management LLC Takes $650,000 Position in Globant S.A. $GLOB

Key Points

• Quantitative Investment Management LLC has acquired a new stake in Globant S.A., purchasing 5,525 shares valued at approximately $650,000 in the first quarter.
• Globant reported earnings of $1.53 per share, exceeding expectations, and delivered a quarterly revenue of $614.18 million, reflecting a 4.5% increase year-over-year.
• Wall Street analysts generally hold a positive outlook on Globant, with an average rating of "Moderate Buy" and a target price of $139.47 for the stock.

Quantitative Investment Management LLC purchased a new stake in Globant S.A. (NYSE:GLOB - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 5,525 shares of the information technology services provider's stock, valued at approximately $650,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group boosted its holdings in shares of Globant by 194.4% in the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock valued at $25,000 after buying an additional 140 shares during the period. Physician Wealth Advisors Inc. boosted its holdings 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. acquired a new position in shares of Globant in the 1st quarter valued at about $39,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 buying an additional 252 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after buying an additional 89 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Globant stock traded down $0.33 during trading hours on Thursday, hitting $67.49. 984,508 shares of the company traded hands, compared to its average volume of 2,074,084. The firm has a market cap of $2.97 billion, a P/E ratio of 27.43, a P/E/G ratio of 3.00 and a beta of 1.16. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The firm's 50-day simple moving average is $82.61 and its two-hundred day simple moving average is $110.99. Globant S.A. has a 1-year low of $64.51 and a 1-year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results 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. The firm had revenue of $614.18 million for the quarter, compared to analysts' expectations of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. Globant's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLOB. The Goldman Sachs Group decreased their price target 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. Guggenheim reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Globant in a report on Tuesday, June 10th. UBS Group dropped their price objective on shares of Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, August 20th. Needham & Company LLC dropped their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

Globant 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.