D.B. Root & Company LLC Invests $302,000 in Globant S.A. (NYSE:GLOB)

D.B. Root & Company LLC bought a new stake in Globant S.A. (NYSE:GLOB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,694 shares of the information technology services provider’s stock, valued at approximately $302,000.

Several other large investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC acquired a new stake in shares of Globant during the second quarter worth about $99,396,000. Park Avenue Securities LLC boosted its stake in shares of Globant by 4.7% during the second quarter. Park Avenue Securities LLC now owns 7,969 shares of the information technology services provider’s stock worth $1,421,000 after buying an additional 357 shares during the period. Quent Capital LLC boosted its stake in shares of Globant by 30.0% during the second quarter. Quent Capital LLC now owns 4,338 shares of the information technology services provider’s stock worth $773,000 after buying an additional 1,000 shares during the period. Moody National Bank Trust Division boosted its stake in shares of Globant by 25.0% during the second quarter. Moody National Bank Trust Division now owns 10,050 shares of the information technology services provider’s stock worth $1,792,000 after buying an additional 2,013 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Globant by 82.0% in the second quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock valued at $90,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLOB. Canaccord Genuity Group dropped their target price on shares of Globant from $230.00 to $175.00 and set a “hold” rating for the company in a report on Friday, May 17th. Citigroup increased their target price on shares of Globant from $215.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 12th. Redburn Atlantic began coverage on shares of Globant in a report on Friday, May 24th. They issued a “sell” rating and a $135.00 target price for the company. Wedbush dropped their target price on shares of Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.28.

Globant Price Performance

Globant stock opened at $185.01 on Tuesday. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of 48.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The firm’s fifty day moving average price is $178.47 and its 200 day moving average price is $193.52.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. The firm had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. Analysts forecast that Globant S.A. will post 5 earnings per share for the current fiscal 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.