Globant S.A. (NYSE:GLOB) Stock Position Lifted by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its position in Globant S.A. (NYSE:GLOB) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,704 shares of the information technology services provider’s stock after buying an additional 103 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Globant were worth $406,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CI Investments Inc. boosted its stake in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares during the period. CWM LLC increased its holdings in Globant by 20.9% during the 3rd quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock valued at $100,000 after purchasing an additional 87 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $164,000 after buying an additional 689 shares during the period. Beaumont Financial Advisors LLC acquired a new stake in shares of Globant in the 4th quarter valued at $201,000. Finally, Carlson Capital Management bought a new stake in Globant in the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GLOB shares. Needham & Company LLC boosted their target price on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $230.00 price target on shares of Globant in a report on Tuesday, February 20th. Mizuho reiterated a “buy” rating and issued a $279.00 target price (down from $283.00) on shares of Globant in a research report on Tuesday, February 20th. Piper Sandler upped their price target on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.24.

Globant Stock Performance

Shares of Globant stock traded up $0.83 on Wednesday, reaching $181.64. The company had a trading volume of 64,962 shares, compared to its average volume of 448,076. The firm has a market cap of $7.83 billion, a PE ratio of 50.15, a PEG ratio of 1.36 and a beta of 1.35. The firm’s 50 day moving average price is $207.29 and its two-hundred day moving average price is $212.53. Globant S.A. has a 52-week low of $135.40 and a 52-week high of $251.50.

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

Globant Company 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.