Wealth Enhancement Advisory Services LLC Purchases Shares of 1,280 Globant S.A. (NYSE:GLOB)

Wealth Enhancement Advisory Services LLC purchased a new stake in Globant S.A. (NYSE:GLOB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,280 shares of the information technology services provider’s stock, valued at approximately $274,000.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Globant during the 4th quarter worth approximately $38,000. Centricity Wealth Management LLC purchased a new stake in shares of Globant in the fourth quarter worth $38,000. Van Berkom & Associates Inc. purchased a new stake in shares of Globant in the fourth quarter worth $45,000. Promus Capital LLC bought a new position in shares of Globant during the fourth quarter valued at $64,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Globant in the 4th quarter worth about $81,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLOB. UBS Group cut their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Susquehanna reduced their price target on shares of Globant from $225.00 to $160.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised Globant from a “sell” rating to a “hold” rating in a research note on Monday, May 19th. Finally, Canaccord Genuity Group decreased their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.19.

Globant Price Performance

NYSE:GLOB opened at $93.92 on Monday. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 2.38 and a beta of 1.24. Globant S.A. has a 1 year low of $88.03 and a 1 year high of $238.32. The stock’s 50 day simple moving average is $109.79 and its two-hundred day simple moving average is $159.78.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.83% and a net margin of 6.86%. The company had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same quarter last year, the firm posted $1.53 EPS. Globant’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Globant S.A. will post 5.73 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.