Globant S.A. (NYSE:GLOB) Position Increased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its stake in shares of Globant S.A. (NYSE:GLOB) by 48.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,804 shares of the information technology services provider’s stock after purchasing an additional 1,565 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Globant were worth $566,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. lifted its position in Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 155 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Globant during the first quarter worth $39,000. Farther Finance Advisors LLC lifted its position in shares of Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 252 shares in the last quarter. Signaturefd LLC raised its position in shares of Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock worth $46,000 after acquiring an additional 89 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Globant by 23.6% in the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider’s stock valued at $71,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Susquehanna decreased their price target on shares of Globant from $225.00 to $160.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. Guggenheim reiterated a “buy” rating and set a $125.00 target price on shares of Globant in a research note on Tuesday, June 10th. Needham & Company LLC decreased their price objective on Globant from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Piper Sandler lowered Globant from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Finally, The Goldman Sachs Group downgraded shares of Globant from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.69.

Globant Stock Performance

Shares of GLOB stock opened at $79.49 on Wednesday. The firm’s 50-day simple moving average is $91.17 and its two-hundred day simple moving average is $126.77. Globant S.A. has a 52 week low of $78.30 and a 52 week high of $238.32. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 3.37 and a beta of 1.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The business had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same quarter in the previous year, the business earned $1.53 EPS. Globant’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current 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.