New York Life Investment Management LLC Trims Position in Globant S.A. (NYSE:GLOB)

New York Life Investment Management LLC lessened its stake in Globant S.A. (NYSE:GLOB) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,474 shares of the information technology services provider’s stock after selling 887 shares during the period. New York Life Investment Management LLC’s holdings in Globant were worth $959,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC purchased a new position in Globant in the 4th quarter worth about $38,000. Van Berkom & Associates Inc. bought a new position in Globant during the 4th quarter worth about $45,000. Flossbach Von Storch SE grew its holdings in Globant by 6.1% during the 4th quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider’s stock worth $3,752,000 after acquiring an additional 1,000 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Globant in the 4th quarter valued at about $38,000. Finally, Truist Financial Corp raised its holdings in shares of Globant by 2.6% in the 4th quarter. Truist Financial Corp now owns 21,703 shares of the information technology services provider’s stock valued at $4,654,000 after purchasing an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 4.7 %

NYSE:GLOB opened at $143.47 on Tuesday. The company has a market cap of $6.18 billion, a PE ratio of 38.57, a P/E/G ratio of 2.38 and a beta of 1.39. Globant S.A. has a twelve month low of $143.06 and a twelve month high of $238.32. The company’s 50 day moving average is $205.65 and its two-hundred day moving average is $209.38.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $644.42 million. As a group, analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Needham & Company LLC reduced their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. Canaccord Genuity Group reduced their price target on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Scotiabank reduced their price target 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. Finally, Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.39.

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.