Strs Ohio Purchases New Shares in Globant S.A. $GLOB

Strs Ohio purchased a new stake in shares of Globant S.A. (NYSE:GLOB) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 9,048 shares of the information technology services provider’s stock, valued at approximately $1,065,000.

A number of other large investors have also added to or reduced their stakes in the company. Vancity Investment Management Ltd acquired a new stake in Globant during the 1st quarter valued at $896,000. Goldman Sachs Group Inc. boosted its stake in Globant by 69.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after acquiring an additional 30,386 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Globant during the 1st quarter valued at $2,403,000. Scientech Research LLC bought a new position in Globant during the 1st quarter valued at $889,000. Finally, Petrus Trust Company LTA bought a new position in Globant during the 1st quarter valued at $204,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, July 17th. They issued a “hold” rating and a $87.00 price target on the stock. JPMorgan Chase & Co. lowered shares of Globant from an “overweight” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Friday, August 15th. UBS Group lowered their price target on shares of Globant from $120.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. The Goldman Sachs Group dropped their price objective on Globant from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, August 18th. Finally, Needham & Company LLC lowered their price target on Globant from $115.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.47.

Globant Trading Up 1.6%

Shares of GLOB stock opened at $57.28 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 23.28, a PEG ratio of 2.48 and a beta of 1.17. The stock has a 50 day simple moving average of $73.51 and a two-hundred day simple moving average of $97.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. Globant S.A. has a fifty-two week low of $54.36 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. The business had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Research analysts forecast that Globant S.A. will post 5.73 earnings per share 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.