Raymond James Financial Inc. Makes New Investment in Globant S.A. (NYSE:GLOB)

Raymond James Financial Inc. acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 78,058 shares of the information technology services provider's stock, valued at approximately $16,737,000. Raymond James Financial Inc. owned about 0.18% of Globant as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of GLOB. Centricity Wealth Management LLC purchased a new stake in shares of Globant during the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC purchased a new stake in shares of Globant during the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant during the 3rd quarter worth $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant in the 4th quarter worth about $45,000. Finally, Promus Capital LLC bought a new position in Globant during the fourth quarter valued at about $64,000. Institutional investors own 91.60% of the company's stock.

Globant Stock Performance

Globant stock traded up $0.23 during midday trading on Friday, reaching $118.58. 202,670 shares of the stock were exchanged, compared to its average volume of 602,841. The company's fifty day moving average is $130.12 and its 200-day moving average is $187.62. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32. The firm has a market cap of $5.22 billion, a PE ratio of 31.87, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. On average, sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on GLOB. Scotiabank lowered their price objective on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a research report on Monday, February 24th. Needham & Company LLC reiterated a "buy" rating and issued a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. UBS Group reduced their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. StockNews.com lowered Globant from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and increased their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.88.

Globant Company 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.