M&T Bank Corp Has $223,000 Stock Position in Globant S.A. (NYSE:GLOB)

M&T Bank Corp increased its position in Globant S.A. (NYSE:GLOBGet Rating) by 117.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,583 shares of the information technology services provider’s stock after purchasing an additional 1,939 shares during the quarter. M&T Bank Corp’s holdings in Globant were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLOB. Kestra Advisory Services LLC boosted its holdings in Globant by 9.0% during the first quarter. Kestra Advisory Services LLC now owns 1,520 shares of the information technology services provider’s stock worth $398,000 after buying an additional 126 shares during the last quarter. Comerica Bank boosted its holdings in Globant by 12.0% during the first quarter. Comerica Bank now owns 2,048 shares of the information technology services provider’s stock worth $480,000 after buying an additional 220 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Globant by 46.7% during the first quarter. Belpointe Asset Management LLC now owns 914 shares of the information technology services provider’s stock worth $240,000 after buying an additional 291 shares during the last quarter. FourThought Financial LLC boosted its holdings in Globant by 17,850.0% during the first quarter. FourThought Financial LLC now owns 718 shares of the information technology services provider’s stock worth $188,000 after buying an additional 714 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Globant by 2.9% during the first quarter. Park Avenue Securities LLC now owns 7,349 shares of the information technology services provider’s stock worth $1,926,000 after buying an additional 206 shares during the last quarter. 88.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GLOB shares. JPMorgan Chase & Co. cut their price objective on Globant from $303.00 to $240.00 in a report on Friday, October 14th. KeyCorp started coverage on Globant in a report on Monday, September 12th. They set an “overweight” rating and a $291.00 price objective on the stock. StockNews.com assumed coverage on Globant in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Cowen cut their target price on Globant from $248.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 19th. Finally, Cowen cut their target price on Globant from $248.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 19th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.13.

Globant Stock Down 2.5 %

NYSE:GLOB opened at $188.29 on Thursday. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 62.55 and a beta of 1.41. Globant S.A. has a twelve month low of $155.01 and a twelve month high of $324.29. The stock’s 50 day moving average price is $188.68 and its two-hundred day moving average price is $194.45.

Globant (NYSE:GLOBGet Rating) last posted its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.02. The firm had revenue of $429.30 million for the quarter, compared to analyst estimates of $426.22 million. Globant had a return on equity of 11.53% and a net margin of 8.26%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. As a group, analysts anticipate that Globant S.A. will post 4.14 earnings per share for the current year.

About Globant

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

Further Reading

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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