Globant S.A. (NYSE:GLOB) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Globant S.A. (NYSE:GLOB) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,405 shares of the information technology services provider’s stock after purchasing an additional 2,331 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Globant were worth $5,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Globant by 10.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,406,155 shares of the information technology services provider’s stock worth $558,644,000 after purchasing an additional 319,684 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Globant by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock worth $319,485,000 after purchasing an additional 49,812 shares during the period. Sands Capital Management LLC raised its holdings in shares of Globant by 8.1% during the second quarter. Sands Capital Management LLC now owns 1,522,069 shares of the information technology services provider’s stock worth $273,546,000 after purchasing an additional 114,126 shares during the period. Invesco Ltd. raised its holdings in shares of Globant by 5.5% during the first quarter. Invesco Ltd. now owns 1,232,195 shares of the information technology services provider’s stock worth $322,920,000 after purchasing an additional 64,161 shares during the period. Finally, Capital International Investors raised its holdings in shares of Globant by 0.6% during the first quarter. Capital International Investors now owns 822,632 shares of the information technology services provider’s stock worth $215,587,000 after purchasing an additional 4,561 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GLOB shares. Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of Globant in a report on Friday, February 16th. Mizuho reiterated a “buy” rating and issued a $279.00 price objective (down from $283.00) on shares of Globant in a research report on Tuesday, February 20th. Piper Sandler lifted their price objective on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. KeyCorp lifted their price objective on shares of Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Citigroup lifted their price objective on shares of Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average target price of $246.59.

Globant Trading Down 4.1 %

Globant stock opened at $192.34 on Monday. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 52.99, a PEG ratio of 1.45 and a beta of 1.35. The company’s 50-day moving average price is $215.05 and its two-hundred day moving average price is $213.30. Globant S.A. has a 52 week low of $135.40 and a 52 week high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The business had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. Research analysts expect that Globant S.A. will post 5.04 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.