ANTIPODES PARTNERS Ltd Grows Stock Holdings in Globant S.A. (NYSE:GLOB)

ANTIPODES PARTNERS Ltd raised its stake in Globant S.A. (NYSE:GLOB) by 59.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,577 shares of the information technology services provider’s stock after buying an additional 588 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in Globant were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new stake in Globant in the 4th quarter valued at about $490,000. Seven Eight Capital LP purchased a new stake in Globant in the 1st quarter valued at about $2,138,000. Vanguard Group Inc. lifted its position in shares of Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares during the period. Cetera Investment Advisers lifted its position in shares of Globant by 1,079.8% in the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after purchasing an additional 18,433 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Globant by 0.9% in the 4th quarter. Franklin Resources Inc. now owns 12,672 shares of the information technology services provider’s stock worth $3,016,000 after purchasing an additional 111 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GLOB. Redburn Atlantic began coverage on shares of Globant in a research report on Friday, May 24th. They issued a “sell” rating and a $135.00 price target for the company. Needham & Company LLC upped their price target on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. The Goldman Sachs Group started coverage on shares of Globant in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target for the company. Finally, TD Cowen boosted their price objective on shares of Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $221.42.

Globant Price Performance

NYSE:GLOB opened at $199.41 on Friday. The firm has a market capitalization of $8.59 billion, a P/E ratio of 52.34, a PEG ratio of 2.51 and a beta of 1.41. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50. The company’s fifty day moving average price is $191.97 and its 200-day moving average price is $189.28.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts anticipate that Globant S.A. will post 5.01 EPS for the current fiscal 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.