4,278 Shares in Globant S.A. (NYSE:GLOB) Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC purchased a new position in Globant S.A. (NYSE:GLOB) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,278 shares of the information technology services provider’s stock, valued at approximately $1,018,000.

Other hedge funds have also recently added to or reduced their stakes in the company. CI Investments Inc. raised its stake in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 72 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Globant during the 4th quarter valued at $56,000. GAMMA Investing LLC acquired a new position in shares of Globant during the 4th quarter valued at $68,000. CWM LLC increased its position in shares of Globant by 13.5% during the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after purchasing an additional 68 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Globant by 68,900.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock valued at $164,000 after purchasing an additional 689 shares during the period. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GLOB. Piper Sandler reiterated an “overweight” rating and set a $238.00 price target (down from $290.00) on shares of Globant in a research report on Friday, May 17th. Mizuho decreased their target price on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. JPMorgan Chase & Co. decreased their target price on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Redburn Atlantic began coverage on Globant in a report on Friday, May 24th. They issued a “sell” rating and a $135.00 target price on the stock. Finally, KeyCorp decreased their target price on Globant from $272.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $217.94.

Globant Price Performance

GLOB traded down $2.13 during trading on Tuesday, reaching $152.35. 51,404 shares of the stock traded hands, compared to its average volume of 480,712. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 1.21 and a beta of 1.40. Globant S.A. has a fifty-two week low of $151.76 and a fifty-two week high of $251.50. The stock’s 50-day simple moving average is $177.97 and its two-hundred day simple moving average is $209.05.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The company had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Research analysts anticipate that Globant S.A. will post 5.02 earnings per share for the current fiscal 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.