VELA Investment Management LLC Makes New Investment in Globant S.A. $GLOB

VELA Investment Management LLC acquired a new stake in Globant S.A. (NYSE:GLOB) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 11,700 shares of the information technology services provider’s stock, valued at approximately $671,000.

A number of other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its holdings in Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 197 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Globant by 352.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 352 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Globant by 27,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock valued at $48,000 after acquiring an additional 833 shares in the last quarter. CWM LLC lifted its holdings in shares of Globant by 35.4% during the 3rd quarter. CWM LLC now owns 861 shares of the information technology services provider’s stock valued at $49,000 after acquiring an additional 225 shares in the last quarter. Finally, State of Wyoming boosted its position in Globant by 78.9% during the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider’s stock worth $80,000 after purchasing an additional 389 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Up 6.2%

Shares of NYSE GLOB opened at $66.75 on Thursday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average price is $66.15 and its two-hundred day moving average price is $67.57. Globant S.A. has a 52-week low of $54.36 and a 52-week high of $228.98. The stock has a market capitalization of $2.94 billion, a P/E ratio of 30.20, a PEG ratio of 5.79 and a beta of 1.21.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). Globant had a net margin of 4.01% and a return on equity of 10.39%. The firm had revenue of $617.14 million during the quarter, compared to the consensus estimate of $615.32 million. During the same quarter last year, the firm posted $1.63 earnings per share. Globant’s revenue was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. On average, analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant declared that its board has approved a stock buyback plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

GLOB has been the topic of several research reports. William Blair reissued an “outperform” rating on shares of Globant in a research report on Wednesday, December 31st. Truist Financial started coverage on Globant in a research note on Tuesday, January 6th. They issued a “hold” rating and a $72.00 target price for the company. UBS Group reissued a “neutral” rating and set a $75.00 price target on shares of Globant in a research report on Monday. Needham & Company LLC decreased their price target on Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. Finally, Wells Fargo & Company boosted their target price on shares of Globant from $61.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Globant presently has a consensus rating of “Hold” and a consensus target price of $97.75.

About Globant

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.