Norges Bank Makes New $19.44 Million Investment in Globant S.A. (NYSE:GLOB)

Norges Bank acquired a new stake in Globant S.A. (NYSE:GLOB) during the 4th quarter, Holdings Channel.com reports. The firm acquired 90,682 shares of the information technology services provider’s stock, valued at approximately $19,444,000.

Several other institutional investors and hedge funds have also made changes to their positions in GLOB. Centricity Wealth Management LLC acquired a new position in Globant in the 4th quarter valued at about $38,000. Kestra Investment Management LLC acquired a new position in shares of Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant during the third quarter valued at approximately $40,000. Van Berkom & Associates Inc. acquired a new stake in Globant during the fourth quarter worth approximately $45,000. Finally, Promus Capital LLC purchased a new stake in Globant in the 4th quarter worth approximately $64,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB opened at $100.14 on Monday. Globant S.A. has a 12 month low of $96.93 and a 12 month high of $238.32. The stock’s 50-day moving average is $164.90 and its two-hundred day moving average is $197.44. The stock has a market cap of $4.41 billion, a PE ratio of 26.92, a P/E/G ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on GLOB shares. UBS Group reduced their price target on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Jefferies Financial Group upped their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Susquehanna initiated coverage on shares of Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $216.56.

About Globant

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.