Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Globant S.A. (NYSE:GLOB)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Globant S.A. (NYSE:GLOB) by 68,900.0% during the fourth quarter, Holdings Channel reports. The fund owned 690 shares of the information technology services provider’s stock after buying an additional 689 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Globant were worth $164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLOB. CI Investments Inc. raised its holdings in shares of Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 72 shares during the period. Carlson Capital Management purchased a new position in shares of Globant during the 4th quarter valued at $205,000. Capital Advisors Inc. OK bought a new position in shares of Globant during the 4th quarter worth $217,000. Harbour Capital Advisors LLC purchased a new stake in Globant in the 4th quarter worth about $218,000. Finally, Yousif Capital Management LLC bought a new stake in Globant in the 3rd quarter valued at about $207,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Performance

Shares of Globant stock opened at $191.05 on Thursday. Globant S.A. has a 52-week low of $135.40 and a 52-week high of $251.50. The company has a fifty day moving average of $197.94 and a 200-day moving average of $211.78. The stock has a market capitalization of $8.23 billion, a price-to-earnings 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). Globant had a net margin of 7.56% and a return on equity of 11.38%. The business had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. On average, equities research analysts forecast that Globant S.A. will post 5.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GLOB shares. Piper Sandler increased their target price on shares of Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Wedbush reissued an “outperform” rating and set a $250.00 target price on shares of Globant in a report on Friday, February 16th. KeyCorp raised their price target on Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Mizuho reiterated a “buy” rating and set a $279.00 price objective (down from $283.00) on shares of Globant in a research note on Tuesday, February 20th. Finally, Guggenheim started coverage on Globant in a research note on Tuesday, March 19th. They issued a “buy” rating and a $250.00 target price for the company. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.35.

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.