Pier Capital LLC Acquires 1,094 Shares of Globant S.A. (NYSE:GLOB)

Pier Capital LLC boosted its holdings in shares of Globant S.A. (NYSE:GLOB) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 46,644 shares of the information technology services provider’s stock after purchasing an additional 1,094 shares during the quarter. Globant makes up about 1.4% of Pier Capital LLC’s portfolio, making the stock its 15th largest position. Pier Capital LLC’s holdings in Globant were worth $10,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLOB. Raymond James Financial Inc. acquired a new position in Globant in the 4th quarter valued at approximately $16,737,000. Cullen Frost Bankers Inc. lifted its position in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after purchasing an additional 2,505 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Globant during the third quarter worth $11,145,000. NS Partners Ltd bought a new stake in Globant in the 4th quarter valued at $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after acquiring an additional 8,427 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 0.9 %

Globant stock opened at $129.49 on Tuesday. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 34.81, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12-month low of $124.53 and a 12-month high of $238.32. The business’s 50-day simple moving average is $181.64 and its 200 day simple moving average is $202.43.

Globant (NYSE:GLOB) last announced 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 net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, sell-side analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank decreased their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Piper Sandler dropped their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Canaccord Genuity Group reduced their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Finally, Susquehanna began coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $219.71.

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.