Promus Capital LLC Invests $64,000 in Globant S.A. (NYSE:GLOB)

Promus Capital LLC acquired a new stake in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 298 shares of the information technology services provider’s stock, valued at approximately $64,000.

Several other large investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Globant in the fourth quarter valued at about $38,000. Kestra Investment Management LLC purchased a new position in Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant during the third quarter worth approximately $40,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant during the fourth quarter worth approximately $45,000. Finally, Van ECK Associates Corp grew its position in Globant by 62.4% in the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock valued at $86,000 after buying an additional 153 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Up 0.6 %

NYSE:GLOB opened at $147.07 on Thursday. Globant S.A. has a 1 year low of $140.88 and a 1 year high of $238.32. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 39.53, a PEG ratio of 2.38 and a beta of 1.39. The stock has a 50-day moving average price of $202.74 and a two-hundred day moving average price of $208.54.

Globant (NYSE:GLOB) last posted 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 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

GLOB has been the subject of several research reports. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. TD Cowen boosted their price target on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and upped their target price for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Susquehanna assumed coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $221.39.

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.