Vanguard Group Inc. Buys 2,744 Shares of Globant S.A. (NYSE:GLOB)

Vanguard Group Inc. grew its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,147 shares of the information technology services provider's stock after buying an additional 2,744 shares during the period. Vanguard Group Inc. owned approximately 0.27% of Globant worth $24,690,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Globant in the fourth quarter worth $16,737,000. Cullen Frost Bankers Inc. raised its stake in Globant by 5.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after buying an additional 2,505 shares during the period. NS Partners Ltd bought a new position in Globant in the fourth quarter worth approximately $18,933,000. LGT Group Foundation acquired a new stake in Globant in the fourth quarter valued at approximately $1,583,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Globant by 121.3% during the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock valued at $6,014,000 after acquiring an additional 16,639 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

GLOB has been the subject of several research reports. Piper Sandler reduced their price target on shares of Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research report on Wednesday. Scotiabank decreased their target price on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a research report on Monday, February 24th. StockNews.com cut shares of Globant from a "hold" rating to a "sell" rating in a research report on Monday, April 14th. UBS Group decreased 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. Finally, Susquehanna dropped their target price on Globant from $255.00 to $225.00 and set a "positive" rating on the stock in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.94.

Globant Trading Down 0.8 %

Shares of GLOB stock traded down $0.90 on Friday, hitting $105.69. 401,366 shares of the stock were exchanged, compared to its average volume of 596,934. Globant S.A. has a one year low of $96.23 and a one year high of $238.32. The firm's 50 day moving average is $139.24 and its two-hundred day moving average is $189.88. The firm has a market capitalization of $4.65 billion, a PE ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50.

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