Royal Bank of Canada Boosts Stake in Globant S.A. $GLOB

Key Points

• The Royal Bank of Canada increased its stake in Globant S.A. by 293.5%, owning nearly 1 million shares valued at over $117 million as of its latest SEC filing.
• Multiple institutional investors showed significant changes in their positions with Invesco and Westfield Capital increasing their stakes by 764.3% and 209.0% respectively during the same period.
• Analysts have mixed ratings on Globant, with price targets ranging from $75.00 to $139.47, while seven analysts have given it a "Hold" rating and eight a "Buy" rating.

Royal Bank of Canada boosted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 293.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 999,955 shares of the information technology services provider's stock after buying an additional 745,848 shares during the period. Royal Bank of Canada owned 2.27% of Globant worth $117,716,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Signaturefd LLC raised its stake in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after buying an additional 89 shares in the last quarter. Blue Trust Inc. grew its holdings 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 valued at $71,000 after buying an additional 116 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Globant by 194.4% during the first 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 last quarter. Benjamin Edwards Inc. lifted its position in Globant by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock valued at $712,000 after purchasing an additional 151 shares during the period. Finally, Physician Wealth Advisors Inc. lifted its position in Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GLOB. Scotiabank upgraded shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective on the stock in a report on Monday, July 21st. The Goldman Sachs Group lowered their price objective on shares of Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Wall Street Zen raised shares of Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lowered shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price objective for the company. in a research report on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, July 17th. They set a "hold" rating and a $87.00 price objective for the company. Eight 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.47.

Globant Trading Down 3.2%

Shares of GLOB stock traded down $1.99 on Monday, reaching $61.13. The company had a trading volume of 440,767 shares, compared to its average volume of 1,170,729. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.69 billion, a PE ratio of 24.80, a PEG ratio of 2.78 and a beta of 1.17. The company has a 50-day moving average of $79.60 and a 200-day moving average of $102.94. Globant S.A. has a 12 month low of $60.57 and a 12 month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.01. The company had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company's revenue 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. On average, equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current 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.