Jupiter Asset Management Ltd. Purchases 7,273 Shares of Globant S.A. (NYSE:GLOB)

Jupiter Asset Management Ltd. raised its position in shares of Globant S.A. (NYSE:GLOB) by 17.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,857 shares of the information technology services provider’s stock after purchasing an additional 7,273 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Globant were worth $8,888,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GLOB. Wasatch Advisors LP grew its holdings in shares of Globant by 6.8% during the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after buying an additional 213,049 shares during the last quarter. Capital International Investors boosted its stake in Globant by 0.5% during the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after purchasing an additional 6,707 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Globant in the 2nd quarter worth $99,396,000. Norges Bank purchased a new position in shares of Globant in the fourth quarter worth $114,922,000. Finally, Martin Currie Ltd. lifted its holdings in shares of Globant by 31.8% during the fourth quarter. Martin Currie Ltd. now owns 478,254 shares of the information technology services provider’s stock valued at $113,815,000 after purchasing an additional 115,360 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB stock opened at $197.35 on Friday. The company’s fifty day moving average price is $194.09 and its 200-day moving average price is $188.37. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 51.80, a PEG ratio of 2.42 and a beta of 1.40. Globant S.A. has a one year low of $151.68 and a one year high of $251.50.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same quarter last year, the company earned $1.04 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Equities research analysts expect that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wedbush decreased their target price on Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 17th. Jefferies Financial Group boosted their price objective on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Citigroup raised their target price on shares of Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 12th. KeyCorp boosted their target price on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Scotiabank raised their price target on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.90.

Globant Company 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.