Should You Hold Globant S.A. (GLOB)?
Polen Capital, an investment management company, released its “Polen International Growth Strategy” first-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy returned 13.85% net in the first quarter compared to a 6.87% return for the MSCI ACWI (ex-USA). Most of the companies the fund owns continue to deliver steady growth, and the portfolio outperformed its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen International Growth Strategy highlighted stocks like Globant S.A. (NYSE:GLOB) in the first quarter 2023 investor letter. Based in Luxembourg, Globant S.A. (NYSE:GLOB) is a technology services company. On June 22, 2023, Globant S.A. (NYSE:GLOB) stock closed at $179.25 per share. One-month return of Globant S.A. (NYSE:GLOB) was 0.22%, and its shares lost 6.19% of their value over the last 52 weeks. Globant S.A. (NYSE:GLOB) has a market capitalization of $7.606 billion.
Polen International Growth Strategy made the following comment about Globant S.A. (NYSE:GLOB) in its first quarter 2023 investor letter:
“Teleperformance, the newest addition to the Portfolio, and Globant S.A. (NYSE:GLOB) were both modest relative detractors during the quarter. Both companies operate within the broad IT services and outsourcing industry, which has seen decelerating growth recently as macroeconomic concerns have begun to affect enterprise IT spending.”
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Globant S.A. (NYSE:GLOB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Globant S.A. (NYSE:GLOB) at the end of first quarter 2023 which was 23 in the previous quarter.
We discussed Globant S.A. (NYSE:GLOB) in another article and shared Harding Loevner Emerging Markets Equity Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
