Grandeur Peak Global Advisors LLC Cuts Position in Globant S.A. (NYSE:GLOB)

Grandeur Peak Global Advisors LLC lowered its stake in shares of Globant S.A. (NYSE:GLOB) by 16.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 339,614 shares of the information technology services provider’s stock after selling 65,637 shares during the period. Globant makes up 6.5% of Grandeur Peak Global Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Grandeur Peak Global Advisors LLC owned about 0.79% of Globant worth $72,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in Globant in the fourth quarter valued at approximately $16,737,000. Cullen Frost Bankers Inc. lifted its stake in shares of 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 valued at $11,350,000 after buying an additional 2,505 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after buying an additional 203,472 shares during the last quarter. NS Partners Ltd bought a new stake in shares of Globant during the fourth quarter worth about $18,933,000. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Globant by 364.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider’s stock worth $25,315,000 after acquiring an additional 92,661 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Shares of GLOB opened at $107.59 on Friday. Globant S.A. has a 1-year low of $96.23 and a 1-year high of $238.32. The company has a market capitalization of $4.74 billion, a P/E ratio of 28.92, a P/E/G ratio of 2.38 and a beta of 1.50. The firm’s 50 day simple moving average is $150.16 and its 200 day simple moving average is $193.09.

Globant (NYSE:GLOB) last posted 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). The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler lowered their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group cut their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. dropped their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and upped their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $214.69.

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.