Hussman Strategic Advisors Inc. Grows Position in Globant S.A. $GLOB

Hussman Strategic Advisors Inc. boosted its position in shares of Globant S.A. (NYSE:GLOB) by 50.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,000 shares of the information technology services provider’s stock after purchasing an additional 21,000 shares during the period. Globant comprises 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 14th biggest holding. Hussman Strategic Advisors Inc.’s holdings in Globant were worth $3,615,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GLOB. Allworth Financial LP boosted its position in shares of Globant by 214.1% during the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 197 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Globant by 352.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 352 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Globant by 27,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 833 shares during the period. CWM LLC grew its position in Globant by 35.4% in the 3rd quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock valued at $49,000 after acquiring an additional 225 shares during the last quarter. Finally, Covestor Ltd increased its stake in Globant by 105.5% in the third quarter. Covestor Ltd now owns 1,005 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 516 shares during the period. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GLOB shares. Canaccord Genuity Group lowered their target price on shares of Globant from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 14th. The Goldman Sachs Group lowered their price objective on shares of Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Needham & Company LLC reduced their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Jefferies Financial Group downgraded shares of Globant from a “buy” rating to a “hold” rating and decreased their price target for the company from $80.00 to $61.00 in a research note on Thursday, November 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.75.

Globant Price Performance

NYSE GLOB opened at $69.17 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. The firm’s 50 day moving average price is $66.81 and its 200-day moving average price is $66.83. Globant S.A. has a 52-week low of $54.36 and a 52-week high of $228.98. The company has a market cap of $3.05 billion, a PE ratio of 31.30, a P/E/G ratio of 6.38 and a beta of 1.21.

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

Globant declared that its board has initiated a stock repurchase plan on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Globant

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.