abrdn plc Reduces Stock Position in Globant S.A. (NYSE:GLOB)

abrdn plc lowered its holdings in shares of Globant S.A. (NYSE:GLOB) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 594,640 shares of the information technology services provider’s stock after selling 18,769 shares during the quarter. abrdn plc owned 1.40% of Globant worth $141,512,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GLOB. Beaumont Financial Advisors LLC purchased a new stake in shares of Globant in the 4th quarter worth $201,000. Calamos Advisors LLC purchased a new stake in shares of Globant in the 4th quarter worth $719,000. Federated Hermes Inc. lifted its holdings in shares of Globant by 20.0% in the 4th quarter. Federated Hermes Inc. now owns 12,000 shares of the information technology services provider’s stock worth $2,856,000 after buying an additional 2,000 shares during the period. Flossbach Von Storch AG lifted its holdings in shares of Globant by 25.0% in the 4th quarter. Flossbach Von Storch AG now owns 15,000 shares of the information technology services provider’s stock worth $3,570,000 after buying an additional 3,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Globant by 68,900.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock worth $164,000 after buying an additional 689 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GLOB shares. HSBC lowered their target price on Globant from $275.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Piper Sandler upped their price objective on Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Canaccord Genuity Group restated a “hold” rating and set a $230.00 price objective on shares of Globant in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on Globant from $266.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Finally, Citigroup upped their price objective on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $246.59.

Globant Stock Down 0.1 %

Shares of GLOB traded down $0.23 during mid-day trading on Friday, reaching $179.29. The company had a trading volume of 317,557 shares, compared to its average volume of 387,905. Globant S.A. has a 52-week low of $135.40 and a 52-week high of $251.50. The stock has a market capitalization of $7.73 billion, a P/E ratio of 49.41, a PEG ratio of 1.36 and a beta of 1.35. The stock has a 50 day moving average of $209.46 and a two-hundred day moving average of $212.55.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The business had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Globant had a return on equity of 11.38% and a net margin of 7.56%. On average, sell-side analysts expect that Globant S.A. will post 5.03 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.