US Bancorp DE Sells 3,193 Shares of Globant S.A. $GLOB

US Bancorp DE cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 25.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,408 shares of the information technology services provider’s stock after selling 3,193 shares during the period. US Bancorp DE’s holdings in Globant were worth $855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group lifted its position in shares of Globant by 194.4% in the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after purchasing an additional 140 shares during the period. Physician Wealth Advisors Inc. grew its stake in shares of Globant by 140.9% in 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 in the last quarter. Bessemer Group Inc. purchased a new position in shares of Globant in the 1st quarter worth about $39,000. Farther Finance Advisors LLC boosted its holdings in shares of Globant by 186.7% in the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider’s stock worth $45,000 after buying an additional 252 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Globant from an “overweight” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Friday, August 15th. Needham & Company LLC lowered their price objective on Globant from $115.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, August 15th. UBS Group reduced their price target on Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Scotiabank upgraded Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Globant in a research note on Thursday, July 17th. They set a “hold” rating and a $87.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.47.

Globant Stock Up 2.4%

Shares of GLOB opened at $57.91 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 2.54 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The business’s 50 day simple moving average is $62.35 and its 200-day simple moving average is $86.95. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $238.32.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.01. The firm had revenue of $614.18 million for 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 company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 1st that permits the company to repurchase $125.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Globant 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.