J. Goldman & Co LP Takes Position in Globant S.A. (NYSE:GLOB)

J. Goldman & Co LP purchased a new position in Globant S.A. (NYSE:GLOB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,974 shares of the information technology services provider's stock, valued at approximately $1,281,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Franklin Resources Inc. grew its position in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after purchasing an additional 71 shares during the period. Congress Wealth Management LLC DE grew its position in shares of Globant by 2.9% in the fourth quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock valued at $575,000 after purchasing an additional 76 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Globant by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock valued at $3,965,000 after purchasing an additional 110 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Globant by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock valued at $1,032,000 after purchasing an additional 118 shares during the period. Finally, Commerce Bank grew its position in shares of Globant by 8.8% in the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock valued at $402,000 after purchasing an additional 151 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. UBS Group lowered their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Piper Sandler lowered their price target on shares of Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Scotiabank lowered their price target on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.00.

Globant Trading Down 0.5%

GLOB stock traded down $0.66 during trading on Thursday, reaching $133.01. 1,672,355 shares of the stock were exchanged, compared to its average volume of 627,297. The business has a 50 day moving average price of $119.35 and a 200-day moving average price of $178.84. Globant S.A. has a 1 year low of $95.25 and a 1 year high of $238.32. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 35.76, a P/E/G ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.59 by ($0.44). Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, research analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

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.