2,624 Shares in Globant S.A. (NYSE:GLOB) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of Globant S.A. (NYSE:GLOB) during the second quarter, HoldingsChannel.com reports. The firm acquired 2,624 shares of the information technology services provider’s stock, valued at approximately $474,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP raised its position in Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares during the period. Ridgewood Investments LLC purchased a new stake in Globant in the second quarter valued at $31,000. BOKF NA raised its position in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares during the period. RiverPark Advisors LLC purchased a new stake in Globant in the first quarter valued at $54,000. Finally, GAMMA Investing LLC raised its position in Globant by 82.0% in the second quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock valued at $90,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

NYSE:GLOB opened at $216.36 on Thursday. The stock has a 50-day simple moving average of $198.69 and a 200-day simple moving average of $186.24. The stock has a market cap of $9.32 billion, a P/E ratio of 56.79, a P/E/G ratio of 2.61 and a beta of 1.39. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. On average, equities research analysts predict that Globant S.A. will post 5.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler restated an “overweight” rating and issued a $240.00 target price (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. StockNews.com cut Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. The Goldman Sachs Group assumed coverage on Globant in a research note on Monday, June 24th. They issued a “buy” rating and a $200.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Finally, Canaccord Genuity Group lifted their price objective on Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.