Riverbridge Partners LLC Has $87.49 Million Position in Globant S.A. $GLOB

Key Points

• Riverbridge Partners LLC reduced its stake in Globant S.A. by 8.8% during Q2, holding 963,108 shares worth approximately $87.49 million, making it the fund's 25th largest holding.
• Wall Street analysts have downgraded their price targets for Globant, with updates from Needham lowering it from $115 to $85 and JPMorgan and UBS adjusting targets to $78 and $75, respectively.
• Globant reported a quarterly revenue of $614.18 million and EPS of $1.53, surpassing analyst estimates and reflecting a 4.5% increase in revenue compared to the same quarter last year.

Riverbridge Partners LLC cut its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 963,108 shares of the information technology services provider's stock after selling 92,963 shares during the period. Globant accounts for 1.4% of Riverbridge Partners LLC's portfolio, making the stock its 25th largest holding. Riverbridge Partners LLC owned 2.19% of Globant worth $87,489,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its stake 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 purchasing an additional 89 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Globant by 23.6% during the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 116 shares during the last quarter. Brooklyn Investment Group increased its stake 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 purchasing an additional 140 shares during the last quarter. Physician Wealth Advisors Inc. increased its stake 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 purchasing an additional 155 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Globant by 53.1% during the 1st quarter. State of Wyoming now owns 493 shares of the information technology services provider's stock worth $58,000 after purchasing an additional 171 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLOB has been the topic of several recent analyst reports. Needham & Company LLC lowered their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. UBS Group decreased their price target on shares of Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. JPMorgan Chase & Co. lowered shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research note on Friday, August 15th. 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 note on Monday, July 21st. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $97.00 price target (down previously from $165.00) on shares of Globant in a research note on Thursday, June 26th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $139.47.

Globant Stock Performance

Shares of NYSE:GLOB opened at $57.96 on Thursday. The company's 50 day moving average price is $71.38 and its two-hundred day moving average price is $95.43. Globant S.A. has a 12-month low of $54.36 and a 12-month high of $238.32. The firm has a market cap of $2.55 billion, a PE ratio of 23.56, a PEG ratio of 2.49 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 (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the prior year, the business posted $1.51 EPS. The business's revenue was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities research analysts predict that Globant S.A. will post 5.73 earnings per share 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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