S Bank Fund Management Ltd Purchases New Position in Globant S.A. $GLOB

Key Points

• S Bank Fund Management Ltd has acquired a new stake of 59,000 shares in Globant S.A., valued at approximately $5.36 million, representing about 0.13% ownership.
• Globant's stock has seen a significant decline, currently priced at $57.67, down 3.4%, with a market cap of $2.54 billion and mixed ratings from analysts, including several downgrades.
• The company recently announced a $125 million stock repurchase program, indicating management's belief that the stock is undervalued.

S Bank Fund Management Ltd purchased a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 59,000 shares of the information technology services provider's stock, valued at approximately $5,360,000. S Bank Fund Management Ltd owned about 0.13% of Globant as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group raised its stake in shares of Globant by 194.4% in the first 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 during the last quarter. Physician Wealth Advisors Inc. raised its stake in shares of Globant by 140.9% in the first 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 during the last quarter. Bessemer Group Inc. bought a new position in shares of Globant in the first quarter worth about $39,000. Farther Finance Advisors LLC raised its stake in shares of Globant by 186.7% in the first 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 during the last quarter. Finally, Signaturefd LLC raised its stake in shares of 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 acquiring an additional 89 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Globant in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday, July 17th. They set a "hold" rating and a $87.00 price target for the company. Canaccord Genuity Group reissued a "hold" rating and set a $97.00 price target (down from $165.00) on shares of Globant in a research note on Thursday, June 26th. JPMorgan Chase & Co. downgraded shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target for the company. in a research note on Friday, August 15th. Finally, UBS Group dropped their price target on shares of Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $138.47.

Globant Stock Down 3.4%

Shares of NYSE GLOB opened at $57.67 on Thursday. The stock has a market cap of $2.54 billion, a P/E ratio of 23.44, a P/E/G ratio of 2.62 and a beta of 1.17. The firm has a 50 day moving average price of $63.11 and a 200 day moving average price of $87.99. 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 S.A. has a 52-week low of $54.36 and a 52-week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. The firm had revenue of $614.18 million during 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%. The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Globant announced that its board has approved a stock repurchase plan on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.

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