Strs Ohio Invests $1.07 Million in Globant S.A. $GLOB

Key Points

• Strs Ohio has acquired a new stake in Globant S.A., purchasing 9,048 shares valued at approximately $1,065,000 in the first quarter of the year.
• Major investment firms like Goldman Sachs and Vancity Investment Management have also increased their stakes, indicating strong interest from institutional investors, who own 91.60% of the company.
• Globant's latest earnings report showed a slight increase in revenue year-over-year, with earnings per share of $1.53, surpassing analysts' expectations, and they project 5.73 EPS for the current year.

Strs Ohio bought a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,048 shares of the information technology services provider's stock, valued at approximately $1,065,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its holdings in Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after purchasing an additional 89 shares during the last quarter. Blue Trust Inc. boosted 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 valued at $71,000 after buying an additional 116 shares during the last quarter. Brooklyn Investment Group boosted 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 valued at $25,000 after buying an additional 140 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in shares of Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock worth $31,000 after buying an additional 155 shares in the last quarter. Finally, State of Wyoming increased its stake in shares of Globant by 53.1% in the first quarter. State of Wyoming now owns 493 shares of the information technology services provider's stock worth $58,000 after buying an additional 171 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Performance

Shares of Globant stock traded up $0.50 during trading on Monday, hitting $57.50. 2,221,995 shares of the stock were exchanged, compared to its average volume of 1,386,111. 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 12 month low of $54.36 and a 12 month high of $238.32. The stock's fifty day moving average is $72.42 and its 200 day moving average is $95.96. The stock has a market cap of $2.53 billion, a PE ratio of 23.37, a P/E/G ratio of 2.51 and a beta of 1.17.

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 for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The company had revenue of $614.18 million for the quarter, compared to analysts' expectations of $612.66 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The business's revenue for the quarter 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. As a group, sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Analyst Ratings Changes

GLOB has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a "hold" rating and set a $97.00 price objective (down from $165.00) on shares of Globant in a research note on Thursday, June 26th. Guggenheim reaffirmed a "buy" rating and set a $125.00 price target on shares of Globant in a research report on Tuesday, June 10th. The Goldman Sachs Group lowered their price objective on Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a report on Monday, August 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a report on Thursday, July 17th. They set a "hold" rating and a $87.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target for the company. in a report on Friday, August 15th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Globant presently has an average rating of "Moderate Buy" and an average price target of $139.47.

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.