XTX Topco Ltd Purchases New Position in Globant S.A. (NYSE:GLOB)

Key Points

• XTX Topco Ltd has acquired a new position in Globant S.A., purchasing 3,369 shares valued at approximately $397,000.
• Globant reported Q1 earnings with an EPS of $1.50, missing estimates, while revenue grew 7.0% year-over-year to $611.09 million.
• Institutional investors and hedge funds now hold 91.60% of Globant's stock, reflecting strong institutional interest.

XTX Topco Ltd bought a new stake in Globant S.A. (NYSE:GLOB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,369 shares of the information technology services provider's stock, valued at approximately $397,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Physician Wealth Advisors Inc. raised its holdings 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 valued at $31,000 after purchasing an additional 155 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Globant in the first quarter valued at approximately $39,000. Farther Finance Advisors LLC raised its stake in Globant by 186.7% in the first 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 in the last quarter. 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 valued at $46,000 after purchasing an additional 89 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Globant by 262.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock worth $121,000 after acquiring an additional 407 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLOB. Guggenheim reiterated a "buy" rating and set a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, July 17th. They issued a "hold" rating and a $87.00 target price on the stock. The Goldman Sachs Group downgraded shares of Globant from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $225.00 to $120.00 in a research report on Friday, May 16th. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price on the stock in a research report on Monday, July 21st. Finally, Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and an average target price of $165.69.

Globant Stock Performance

Shares of GLOB stock traded down $0.26 on Monday, hitting $74.42. 1,635,313 shares of the stock traded hands, compared to its average volume of 1,086,949. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $3.28 billion, a PE ratio of 22.02, a PEG ratio of 3.07 and a beta of 1.16. Globant S.A. has a 1-year low of $73.98 and a 1-year high of $238.32. The company's fifty day moving average is $89.49 and its 200 day moving average is $122.50.

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

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.