Should You Consider Investing Your Hard Earned Money in Globant S.A. (GLOB)?

Harding Loevner, an investment management firm, published its “International Small Companies Equity Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 2.76 % was recorded by the fund for the third quarter of 2021, beating its Benchmark, the MSC All Country World ex-US Small Cap Index, which returned 0.09% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Harding Loevner International Small Companies Equity Fund, in its Q3 2021 investor letter, mentioned Globant S.A. (NYSE: GLOB) and discussed its stance on the firm. Globant S.A. is a Buenos Aires, Argentina-based software development company with a $10.4 billion market capitalization. GLOB delivered a 15.94% return since the beginning of the year, while its 12-month returns are up by 38.22%. The stock closed at $252.30 per share on December 03, 2021.

Here is what Harding Loevner International Small Companies Equity Fund has to say about Globant S.A.  in its Q3 2021 investor letter:

“By sector, Information Technology (IT) led the way, while Utilities was a drag. Globant, an Argentine IT services provider, reported 48% organic revenue growth in the first half on broad-based demand from the consumer retail, manufacturing, and financial services sectors.”

Based on our calculations, Globant S.A. (NYSE: GLOB) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. GLOB was in 21 hedge fund portfolios at the end of the third quarter of 2021, compared to 23 funds in the previous quarter. Globant S.A. (NYSE: GLOB) delivered a -23.80% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.