5 Stocks to Buy According to Teresa Barger’s Cartica Management

4. Globant S.A. (NYSE:GLOB)

Cartica Management’s Stake Value: $22,492,000
Percentage of Cartica Management’s 13F Portfolio: 8.72%
Number of Hedge Fund Holders: 18

Globant S.A. (NYSE:GLOB) is a company that provides information technology services. Ken Fisher’s Fisher Asset Management is Globant S.A. (NYSE:GLOB)’s most significant stakeholder as of Q2 2022, with 931,600 shares worth $162.10 million.

Thomas Blakey, an analyst at KeyBanc, initiated coverage of Globant S.A. (NYSE:GLOB) on September 12, assigning an ‘Overweight’ rating to the stock with a $291 price target. There were 18 hedge funds in our database that held stakes in Globant S.A. (NYSE:GLOB) at the end of the second quarter of 2022, compared to 31 funds in the first quarter of 2022.

Cartica Management started building its position in Globant S.A. (NYSE:GLOB) in the first quarter of 2021. In the second quarter of 2022, it owned 129,262 shares of the company, valued at $22.49 million. The company represented 8.72% of the hedge fund’s 13F portfolio.

Polen Capital mentioned Globant S.A. (NYSE:GLOB) in its Q2 2022 investor letter. Here is what the firm said:

“Globant S.A. (NYSE:GLOB) is a leading IT consulting company based in Argentina. In particular, Globant’s expertise comes in helping companies digitally transform utilizing artificial intelligence, AR/VR, and blockchain. It has leveraged this expertise, and success with notable clients like Google and Disney, into faster than market growth. In the current environment, where businesses everywhere need help digitally transforming, Globant is seeing very strong demand for its services. The stock price reaction this quarter was related to broad market weakness on concerns around a slowdown in IT spend amidst global recession. In our view, while there’s always the possibility of a moderation in demand in the short term, the secular tailwinds from digital transformation make it likely that strong demand should persist for years to come, supporting strong earnings growth over the long term.”