Benjamin F. Edwards & Company Inc. Purchases New Position in Globant S.A. (NYSE:GLOB)

Benjamin F. Edwards & Company Inc. acquired a new stake in Globant S.A. (NYSE:GLOB) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,059 shares of the information technology services provider’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLOB. CI Investments Inc. grew its position in shares of Globant by 122.0% in the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Globant during the fourth quarter valued at about $68,000. CWM LLC lifted its holdings in shares of Globant by 13.5% in the fourth quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock worth $136,000 after buying an additional 68 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Globant by 68,900.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock valued at $164,000 after acquiring an additional 689 shares during the period. Finally, Beaumont Financial Advisors LLC purchased a new position in Globant during the fourth quarter valued at approximately $201,000. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GLOB. Piper Sandler raised their price target on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Canaccord Genuity Group restated a “hold” rating and set a $230.00 target price on shares of Globant in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lowered their price target on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC boosted their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Finally, Scotiabank lowered their target price on shares of Globant from $260.00 to $230.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.35.

Globant Trading Down 1.5 %

Shares of NYSE:GLOB opened at $191.05 on Thursday. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $251.50. The stock’s 50-day moving average price is $197.94 and its 200-day moving average price is $211.78. The stock has a market capitalization of $8.23 billion, a P/E ratio of 52.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35.

Globant (NYSE:GLOB) last posted its quarterly earnings results 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 company had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. As a group, research analysts predict that Globant S.A. will post 5.03 EPS for the current year.

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.