Globant S.A. (NYSE:GLOB) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its stake in Globant S.A. (NYSE:GLOB) by 11.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,157 shares of the information technology services provider’s stock after buying an additional 1,715 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Globant were worth $3,262,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of GLOB. Deutsche Bank AG grew its stake in Globant by 1.2% during the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock valued at $27,316,000 after purchasing an additional 1,584 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Globant during the 4th quarter valued at approximately $218,000. Moody National Bank Trust Division grew its stake in Globant by 12.3% during the 4th quarter. Moody National Bank Trust Division now owns 9,100 shares of the information technology services provider’s stock valued at $2,166,000 after purchasing an additional 1,000 shares in the last quarter. SG Americas Securities LLC grew its stake in Globant by 85.4% during the 4th quarter. SG Americas Securities LLC now owns 7,847 shares of the information technology services provider’s stock valued at $1,867,000 after purchasing an additional 3,614 shares in the last quarter. Finally, Carlson Capital Management acquired a new stake in Globant during the 4th quarter valued at approximately $205,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Citigroup reduced their target price on Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a report on Friday, May 17th. KeyCorp reduced 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. The Goldman Sachs Group assumed coverage on Globant in a report on Monday, June 24th. They set a “buy” rating and a $200.00 target price on the stock. Wedbush reduced their target price on Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 17th. Finally, Redburn Atlantic assumed coverage on Globant in a report on Friday, May 24th. They set a “sell” rating and a $135.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and a consensus target price of $216.44.

Globant Price Performance

Shares of Globant stock opened at $190.51 on Friday. The business’s fifty day moving average price is $170.28 and its two-hundred day moving average price is $200.12. The company has a market capitalization of $8.21 billion, a P/E ratio of 50.00, a PEG ratio of 1.85 and a beta of 1.41. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. On average, research analysts expect that Globant S.A. will post 5 earnings per share for the current fiscal 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.