Wells Fargo & Company MN Acquires 22,671 Shares of Globant S.A. (NYSE:GLOB)

Wells Fargo & Company MN grew its holdings in shares of Globant S.A. (NYSE:GLOB) by 55.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,672 shares of the information technology services provider’s stock after buying an additional 22,671 shares during the quarter. Wells Fargo & Company MN’s holdings in Globant were worth $13,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Centricity Wealth Management LLC purchased a new stake in Globant during the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC bought a new position in shares of Globant during the 4th quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB purchased a new stake in Globant during the 3rd quarter valued at $40,000. Van Berkom & Associates Inc. purchased a new stake in Globant during the 4th quarter valued at $45,000. Finally, Promus Capital LLC bought a new stake in Globant in the fourth quarter worth $64,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several recent analyst reports. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and increased their target price for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. UBS Group reduced their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Canaccord Genuity Group cut their target price on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler cut their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $214.69.

Globant Trading Up 0.2 %

NYSE GLOB opened at $108.08 on Tuesday. The firm’s fifty day simple moving average is $148.05 and its two-hundred day simple moving average is $192.43. The firm has a market capitalization of $4.76 billion, a P/E ratio of 29.05, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last announced its earnings results 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). The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. As a group, sell-side analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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.