Flossbach Von Storch AG Boosts Position in Globant S.A. (NYSE:GLOB)

Flossbach Von Storch AG increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,000 shares of the information technology services provider’s stock after purchasing an additional 3,000 shares during the quarter. Flossbach Von Storch AG’s holdings in Globant were worth $3,570,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Globant during the fourth quarter worth approximately $71,313,000. Price T Rowe Associates Inc. MD increased its position in Globant by 15.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,086,471 shares of the information technology services provider’s stock worth $519,021,000 after buying an additional 416,119 shares during the period. Invesco Ltd. increased its position in Globant by 155.2% during the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock worth $120,898,000 after buying an additional 371,628 shares during the period. Wolf Hill Capital Management LP acquired a new position in shares of Globant in the first quarter valued at approximately $50,388,000. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Globant in the first quarter valued at approximately $43,211,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GLOB shares. Canaccord Genuity Group reissued a “hold” rating and issued a $230.00 target price on shares of Globant in a report on Tuesday, February 20th. UBS Group boosted their target price on Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. upped their price objective on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Mizuho reiterated a “buy” rating and issued a $279.00 target price (down from $283.00) on shares of Globant in a research note on Tuesday, February 20th. Finally, Needham & Company LLC upped their target price on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.59.

Globant Stock Up 0.5 %

Shares of GLOB traded up $0.92 during mid-day trading on Thursday, hitting $183.07. The stock had a trading volume of 55,666 shares, compared to its average volume of 450,734. The company has a market cap of $7.89 billion, a PE ratio of 50.17, a PEG ratio of 1.40 and a beta of 1.35. The company’s fifty day simple moving average is $211.90 and its two-hundred day simple moving average is $212.93. Globant S.A. has a fifty-two week low of $135.40 and a fifty-two week high of $251.50.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. Equities analysts expect that Globant S.A. will post 5.04 earnings per share for the current year.

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.