Strs Ohio Purchases New Shares 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) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 9,048 shares of the information technology services provider's stock, valued at approximately $1,065,000.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in 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 purchasing an additional 140 shares during the last quarter. Physician Wealth Advisors Inc. lifted its holdings in Globant by 140.9% during the 1st 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 last quarter. Bessemer Group Inc. bought a new position in Globant during the 1st quarter valued at about $39,000. Farther Finance Advisors LLC lifted its holdings in Globant by 186.7% during the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 252 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Globant by 29.7% during the 1st 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. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Down 0.5%

Shares of GLOB traded down $0.28 on Friday, reaching $56.97. 1,706,466 shares of the company's stock were exchanged, compared to its average volume of 1,401,531. 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 capitalization of $2.51 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. The business has a 50 day moving average price of $72.95 and a two-hundred day moving average price of $97.19. Globant S.A. has a 12 month low of $54.36 and a 12 month 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. Research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLOB. 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 report on Friday, August 15th. Needham & Company LLC cut their price target on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a report on Friday, August 15th. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target for the company in a report on Monday, July 21st. UBS Group dropped their target price 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. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and issued a $97.00 target price (down 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.