Globant S.A. $GLOB Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in Globant S.A. (NYSE:GLOB) by 791.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,735 shares of the information technology services provider’s stock after buying an additional 51,257 shares during the period. SG Americas Securities LLC owned approximately 0.13% of Globant worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLOB. Park Avenue Securities LLC purchased a new stake in Globant during the 2nd quarter worth approximately $558,000. Lecap Asset Management Ltd. acquired a new stake in Globant during the second quarter worth approximately $1,855,000. Invesco Ltd. boosted its stake in Globant by 199.1% in the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after acquiring an additional 1,881,940 shares in the last quarter. Border to Coast Pensions Partnership Ltd grew its stake in Globant by 13.0% during the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 154,837 shares of the information technology services provider’s stock worth $14,065,000 after buying an additional 17,843 shares during the last quarter. Finally, Entropy Technologies LP grew its position in shares of Globant by 98.9% during the second quarter. Entropy Technologies LP now owns 31,467 shares of the information technology services provider’s stock worth $2,858,000 after acquiring an additional 15,648 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GLOB. Canaccord Genuity Group decreased their price objective on Globant from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 14th. Truist Financial assumed coverage on Globant in a report on Tuesday, January 6th. They set a “hold” rating and a $72.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Globant in a report on Wednesday, December 31st. Needham & Company LLC decreased their price objective on Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Finally, Jefferies Financial Group cut shares of Globant from a “buy” rating to a “hold” rating and lowered their target price for the stock from $80.00 to $61.00 in a research note on Thursday, November 20th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $97.00.

Globant Trading Down 1.3%

NYSE:GLOB opened at $67.47 on Tuesday. The business’s 50-day moving average is $65.35 and its two-hundred day moving average is $68.63. The firm has a market capitalization of $2.97 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 6.30 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. Globant S.A. has a 12 month low of $54.36 and a 12 month high of $228.98.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.02). The firm had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. The firm’s revenue was up .4% compared to the same quarter last year. During the same period last year, the business earned $1.63 EPS. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Research analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.