Choate Investment Advisors Invests $245,000 in Globant S.A. (NYSE:GLOB)

Choate Investment Advisors purchased a new position in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,143 shares of the information technology services provider’s stock, valued at approximately $245,000.

Other hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Globant during the 4th quarter worth $38,000. Kestra Investment Management LLC acquired a new position in shares of Globant during the 4th quarter worth $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter worth $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant during the 4th quarter worth $45,000. Finally, Promus Capital LLC acquired a new position in shares of Globant during the 4th quarter worth $64,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on GLOB shares. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. UBS Group decreased their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Jefferies Financial Group upped their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Scotiabank decreased their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.39.

Globant Stock Performance

Shares of GLOB stock opened at $136.04 on Tuesday. Globant S.A. has a 52-week low of $128.76 and a 52-week high of $238.32. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 2.38 and a beta of 1.47. The firm has a fifty day moving average of $189.60 and a 200-day moving average of $204.83.

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

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.