Bessemer Group Inc. Takes $39,000 Position in Globant S.A. (NYSE:GLOB)

Bessemer Group Inc. bought a new stake in Globant S.A. (NYSE:GLOB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 332 shares of the information technology services provider’s stock, valued at approximately $39,000.

A number of other institutional investors have also modified their holdings of GLOB. Assetmark Inc. increased its holdings in shares of Globant by 108,316.7% in the 4th quarter. Assetmark Inc. now owns 6,505 shares of the information technology services provider’s stock valued at $1,395,000 after acquiring an additional 6,499 shares during the period. M&T Bank Corp grew its position in Globant by 26.3% in the 4th quarter. M&T Bank Corp now owns 2,073 shares of the information technology services provider’s stock valued at $445,000 after buying an additional 432 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Globant by 5.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock valued at $11,350,000 after buying an additional 2,505 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Globant in the 4th quarter valued at $16,737,000. Finally, Vestmark Advisory Solutions Inc. grew its position in Globant by 19.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 1,227 shares of the information technology services provider’s stock valued at $263,000 after buying an additional 198 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLOB has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Monday, May 19th. Guggenheim reiterated a “buy” rating and issued a $125.00 price objective on shares of Globant in a research report on Tuesday, June 10th. Piper Sandler lowered shares of Globant from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Scotiabank lowered their price objective on shares of Globant from $170.00 to $140.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. Finally, Susquehanna lowered their price objective on shares of Globant from $225.00 to $160.00 and set a “positive” rating on the stock in a research report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.94.

Globant Price Performance

Globant stock opened at $92.36 on Friday. Globant S.A. has a 52 week low of $86.02 and a 52 week high of $238.32. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $104.50 and its 200 day simple moving average is $146.93. The firm has a market capitalization of $4.07 billion, a PE ratio of 27.33, a P/E/G ratio of 2.83 and a beta of 1.20.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The business had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. During the same quarter in the prior year, the firm earned $1.53 earnings per share. Globant’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal 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.