Loomis Sayles & Co. L P Has $8.76 Million Position in Globant S.A. (NYSE:GLOB)

Loomis Sayles & Co. L P cut its position in shares of Globant S.A. (NYSE:GLOB) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,864 shares of the information technology services provider’s stock after selling 1,757 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Globant were worth $8,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Globant in the 4th quarter valued at $16,737,000. Cullen Frost Bankers Inc. raised its position in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after purchasing an additional 2,505 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Globant during the third quarter worth about $11,145,000. NS Partners Ltd acquired a new stake in Globant during the fourth quarter valued at approximately $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Globant by 18.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after purchasing an additional 8,427 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and boosted their price target for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. UBS Group reduced their target price on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $219.71.

Globant Stock Down 6.3 %

Globant stock opened at $118.48 on Friday. The business’s 50-day simple moving average is $174.61 and its 200 day simple moving average is $200.39. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts expect that Globant S.A. will post 5.73 EPS 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.