Van Berkom & Associates Inc. Makes New Investment in Globant S.A. (NYSE:GLOB)

Van Berkom & Associates Inc. purchased a new stake in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, Holdings Channel.com reports. The fund purchased 208 shares of the information technology services provider’s stock, valued at approximately $45,000.

A number of other hedge funds also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in Globant in the fourth quarter valued at $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the 3rd quarter valued at about $40,000. Signaturefd LLC increased its stake in shares of Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares during the period. Van ECK Associates Corp raised its position in shares of Globant by 62.4% during the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after acquiring an additional 153 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Globant by 4,810.0% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider’s stock worth $105,000 after acquiring an additional 481 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GLOB shares. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. UBS Group decreased their price objective on shares of Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Needham & Company LLC restated a “buy” rating and issued a $265.00 target price on shares of Globant in a report on Friday, January 24th. Citigroup increased their price target on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group boosted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $230.28.

Globant Stock Down 3.3 %

Shares of GLOB opened at $210.43 on Friday. The business’s fifty day moving average is $215.55 and its 200 day moving average is $210.82. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $238.32. The stock has a market cap of $9.07 billion, a P/E ratio of 54.94, a P/E/G ratio of 2.52 and a beta of 1.39.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 7.20% and a return on equity of 11.65%. On average, analysts expect that Globant S.A. will post 4.98 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.