Globant S.A. (NYSE:GLOB) Shares Acquired by Polar Capital Holdings Plc

Polar Capital Holdings Plc raised its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,897 shares of the information technology services provider's stock after acquiring an additional 14,730 shares during the period. Polar Capital Holdings Plc owned about 0.77% of Globant worth $70,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Centricity Wealth Management LLC bought a new position in shares of Globant during the 4th quarter worth about $38,000. Kestra Investment Management LLC bought a new position in shares of Globant during the 4th quarter worth approximately $38,000. Van Berkom & Associates Inc. bought a new position in Globant in the 4th quarter valued at $45,000. Promus Capital LLC purchased a new stake in Globant during the fourth quarter worth about $64,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Globant in the 4th quarter worth approximately $81,000. Institutional investors own 91.60% of the company's stock.

Globant Price Performance

NYSE GLOB traded up $3.89 during mid-day trading on Monday, hitting $105.36. The stock had a trading volume of 2,874,627 shares, compared to its average volume of 675,024. Globant S.A. has a twelve month low of $88.03 and a twelve month high of $238.32. The firm's 50 day moving average is $118.69 and its 200 day moving average is $176.94. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last posted 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). The firm had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on GLOB. Susquehanna reduced their target price on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Guggenheim lowered their price objective on shares of Globant from $150.00 to $125.00 and set a "buy" rating for the company in a report on Friday. Mizuho lowered their price objective on Globant from $194.00 to $153.00 and set an "outperform" rating for the company in a research report on Monday. Piper Sandler cut Globant from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $154.00 to $116.00 in a report on Friday. Finally, UBS Group decreased their target price on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $179.19.

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.