Oppenheimer Asset Management Inc. Cuts Holdings in Globant S.A. $GLOB

Oppenheimer Asset Management Inc. decreased its holdings in Globant S.A. (NYSE:GLOB) by 25.1% in the third quarter, Holdings Channel reports. The firm owned 55,907 shares of the information technology services provider’s stock after selling 18,738 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Globant were worth $3,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Globant in the 1st quarter worth about $447,000. Goldman Sachs Group Inc. boosted its holdings in shares of Globant by 69.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after acquiring an additional 30,386 shares during the last quarter. CWM LLC grew its stake in shares of Globant by 30.1% in the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 147 shares during the period. S Bank Fund Management Ltd bought a new stake in shares of Globant in the second quarter worth approximately $5,360,000. Finally, ARGA Investment Management LP purchased a new position in shares of Globant during the second quarter valued at approximately $1,319,000. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Truist Financial started coverage on shares of Globant in a report on Tuesday, January 6th. They issued a “hold” rating and a $72.00 target price on the stock. William Blair restated an “outperform” rating on shares of Globant in a research note on Wednesday, December 31st. Needham & Company LLC cut their price objective on Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. UBS Group reissued a “neutral” rating and issued a $75.00 target price on shares of Globant in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. cut their price target on Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, November 14th. Six research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $97.75.

Globant Price Performance

Shares of Globant stock opened at $55.46 on Thursday. The stock has a market cap of $2.44 billion, a P/E ratio of 25.10, a P/E/G ratio of 6.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. The stock’s fifty day moving average is $66.49 and its 200 day moving average is $65.06. Globant S.A. has a one year low of $54.36 and a one year high of $228.98.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The company had revenue of $617.14 million for the quarter, compared to the consensus estimate of $615.32 million. During the same period in the prior year, the firm posted $1.63 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.