SIH Partners LLLP Purchases New Shares in Globant S.A. (NYSE:GLOB)

SIH Partners LLLP acquired a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,574 shares of the information technology services provider's stock, valued at approximately $552,000.

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

Analysts Set New Price Targets

GLOB has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and raised their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Susquehanna cut their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Canaccord Genuity Group dropped their price objective on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Globant currently has a consensus rating of "Moderate Buy" and an average target price of $205.88.

Globant Price Performance

GLOB stock traded up $0.65 during mid-day trading on Friday, reaching $119.00. The company had a trading volume of 688,782 shares, compared to its average volume of 606,808. The company has a market capitalization of $5.24 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The firm has a 50 day moving average of $128.05 and a 200 day moving average of $186.65. Globant S.A. has a 12 month low of $96.23 and a 12 month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 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 company had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

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.