Parkside Financial Bank & Trust Cuts Stock Holdings in Globant S.A. (NYSE:GLOB)

Parkside Financial Bank & Trust trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,858 shares of the information technology services provider’s stock after selling 202 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Globant were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Centricity Wealth Management LLC purchased a new position in Globant during the 4th quarter worth $38,000. Kestra Investment Management LLC bought a new stake in shares of Globant during the 4th quarter worth $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant during the 3rd quarter worth $40,000. Van Berkom & Associates Inc. bought a new stake in shares of Globant during the 4th quarter worth $45,000. Finally, Van ECK Associates Corp raised its stake in shares of Globant by 62.4% during the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 153 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Up 1.5 %

GLOB stock opened at $150.29 on Friday. The firm has a market capitalization of $6.48 billion, a PE ratio of 40.40, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a twelve month low of $145.42 and a twelve month high of $238.32. The stock has a 50-day simple moving average of $207.17 and a two-hundred day simple moving average of $209.47.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GLOB shares. Canaccord Genuity Group lowered 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. JPMorgan Chase & Co. lowered their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group lifted their target price on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Needham & Company LLC lowered their target price on Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Susquehanna initiated coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective on the stock. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.