Dalton Investments Inc. Purchases Shares of 17,600 Globant S.A. $GLOB

Dalton Investments Inc. acquired a new position in shares of Globant S.A. (NYSE:GLOB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,600 shares of the information technology services provider’s stock, valued at approximately $1,010,000. Globant makes up about 0.7% of Dalton Investments Inc.’s investment portfolio, making the stock its 15th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. ING Groep NV purchased a new position in Globant in the 3rd quarter worth approximately $8,657,000. GUARDCAP ASSET MANAGEMENT Ltd lifted its holdings in shares of Globant by 29.2% during the 3rd quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 15,272 shares of the information technology services provider’s stock worth $876,000 after acquiring an additional 3,450 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Globant by 46.7% in the third quarter. Oppenheimer & Co. Inc. now owns 21,450 shares of the information technology services provider’s stock worth $1,231,000 after acquiring an additional 6,824 shares in the last quarter. Border to Coast Pensions Partnership Ltd grew its position in Globant by 38.3% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 214,167 shares of the information technology services provider’s stock worth $12,289,000 after acquiring an additional 59,330 shares in the last quarter. Finally, Van Berkom & Associates Inc. increased its stake in Globant by 4.3% in the third quarter. Van Berkom & Associates Inc. now owns 13,009 shares of the information technology services provider’s stock valued at $746,000 after acquiring an additional 535 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial started coverage on Globant in a research note on Tuesday, January 6th. They set a “hold” rating and a $72.00 price target for the company. William Blair restated an “outperform” rating on shares of Globant in a research report on Wednesday, December 31st. UBS Group reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Globant in a research note on Monday, January 19th. Needham & Company LLC decreased their price target on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Finally, Canaccord Genuity Group lowered their price objective on shares of Globant from $80.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 14th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Globant currently has a consensus rating of “Hold” and a consensus target price of $97.75.

Globant Price Performance

GLOB opened at $49.41 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. The stock’s 50 day simple moving average is $66.08 and its 200 day simple moving average is $64.95. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 6.01 and a beta of 1.19. Globant S.A. has a 1 year low of $48.20 and a 1 year high of $228.98.

Globant (NYSE:GLOB) last released its quarterly earnings data 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 company had revenue of $617.14 million for the quarter, compared to analysts’ expectations of $615.32 million. During the same period last year, the company posted $1.63 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

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.