Wealth Alliance Has $350,000 Stock Position in Globant S.A. (NYSE:GLOB)

Wealth Alliance lowered its position in shares of Globant S.A. (NYSE:GLOB) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,632 shares of the information technology services provider’s stock after selling 91 shares during the period. Wealth Alliance’s holdings in Globant were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Equitable Trust Co. increased its position in shares of Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 50 shares in the last quarter. M&T Bank Corp increased its position in Globant by 3.8% in the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Franklin Resources Inc. increased its position in Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after acquiring an additional 71 shares in the last quarter. Signaturefd LLC increased its position in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares in the last quarter. Finally, National Bank of Canada FI increased its position in Globant by 3.3% in the 3rd quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock valued at $756,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Price Performance

Globant stock opened at $152.02 on Friday. The company’s 50 day simple moving average is $215.37 and its 200 day simple moving average is $210.82. Globant S.A. has a fifty-two week low of $151.38 and a fifty-two week high of $238.32. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 2.46 and a beta of 1.39.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.65% and a net margin of 7.20%. The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. As a group, analysts predict that Globant S.A. will post 4.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GLOB shares. JPMorgan Chase & Co. lowered their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Citigroup raised their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC lowered their price objective on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Finally, Susquehanna assumed coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $227.06.

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.