US Bancorp DE Has $2.59 Million Position in Globant S.A. (NYSE:GLOB)

US Bancorp DE lessened its stake in shares of Globant S.A. (NYSE:GLOB) by 5.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,083 shares of the information technology services provider’s stock after selling 767 shares during the period. US Bancorp DE’s holdings in Globant were worth $2,592,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Parcion Private Wealth LLC acquired a new position in shares of Globant during the 3rd quarter valued at $214,000. International Assets Investment Management LLC acquired a new position in shares of Globant during the 3rd quarter valued at $36,510,000. Signaturefd LLC lifted its position in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares during the period. Raymond James & Associates lifted its position in shares of Globant by 27.4% during the 3rd quarter. Raymond James & Associates now owns 79,234 shares of the information technology services provider’s stock valued at $15,699,000 after acquiring an additional 17,035 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Globant during the 3rd quarter valued at $575,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

GLOB opened at $212.83 on Wednesday. The firm has a market cap of $9.17 billion, a P/E ratio of 55.57, a PEG ratio of 2.58 and a beta of 1.39. The firm has a 50-day moving average of $204.36 and a 200 day moving average of $188.53. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned $1.04 earnings per share. Equities research analysts predict that Globant S.A. will post 5.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GLOB shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective on the stock. Piper Sandler restated an “overweight” rating and set a $240.00 price objective (up previously from $238.00) on shares of Globant in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group restated a “neutral” rating and set a $235.00 price objective (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Finally, Needham & Company LLC upped their price objective on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average price target of $226.21.

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.