Van Berkom & Associates Inc. Has $807,000 Stake in Globant S.A. (NYSE:GLOB)

Key Points

• Van Berkom & Associates Inc. significantly increased its stake in Globant S.A. by 3,197.1% during the first quarter, totaling 6,858 shares valued at approximately $807,000.
• Several hedge funds have also adjusted their positions, with Principal Financial Group and Mirae Asset Global Investments increasing their stakes by 6.8% and 15.2% respectively, highlighting strong institutional interest in the company.
• Analyst ratings are mixed, with some firms lowering price targets while others maintain a "buy" rating, indicating varying outlooks for the stock, which currently has an average rating of "Moderate Buy" with a consensus target of $165.69.

Van Berkom & Associates Inc. increased its position in Globant S.A. (NYSE:GLOB - Free Report) by 3,197.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,858 shares of the information technology services provider's stock after buying an additional 6,650 shares during the period. Van Berkom & Associates Inc.'s holdings in Globant were worth $807,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GLOB. Manning & Napier Advisors LLC raised its holdings in shares of Globant by 86.3% during the first quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider's stock worth $106,850,000 after purchasing an additional 420,382 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Globant during the 4th quarter worth $60,913,000. JPMorgan Chase & Co. lifted its stake in shares of Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares during the period. Capital International Investors lifted its stake in shares of Globant by 13.1% in the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after acquiring an additional 197,064 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Globant in the 4th quarter valued at about $26,629,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Stock Up 0.7%

GLOB traded up $0.65 during trading on Wednesday, hitting $91.49. The company had a trading volume of 406,577 shares, compared to its average volume of 1,035,483. The company has a market cap of $4.03 billion, a PE ratio of 27.09, a P/E/G ratio of 3.29 and a beta of 1.20. The business has a 50-day moving average of $93.10 and a 200-day moving average of $131.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. Globant S.A. has a 1-year low of $82.39 and a 1-year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a net margin of 6.16% and a return on equity of 11.08%. The business had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. During the same quarter in the previous year, the firm earned $1.53 EPS. The firm's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. 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 report on Thursday, June 26th. Scotiabank upgraded shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price for the company in a report on Monday, July 21st. Needham & Company LLC dropped their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 16th. Guggenheim restated a "buy" rating and set a $125.00 target price on shares of Globant in a report on Tuesday, June 10th. Finally, Susquehanna lowered their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $165.69.

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.