Globant (NYSE:GLOB) Given New $240.00 Price Target at TD Cowen

Globant (NYSE:GLOB) had its target price upped by TD Cowen from $230.00 to $240.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

A number of other research firms have also weighed in on GLOB. Scotiabank increased their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Piper Sandler dropped their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target for the company. UBS Group reaffirmed a “neutral” rating and issued a $235.00 price target (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group raised their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average target price of $228.50.

Globant Stock Performance

NYSE:GLOB opened at $204.09 on Friday. The firm has a market cap of $8.79 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The business has a 50 day moving average price of $208.98 and a 200-day moving average price of $191.19.

Hedge Funds Weigh In On Globant

Several institutional investors and hedge funds have recently modified their holdings of the stock. Equitable Trust Co. increased its holdings in Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after buying an additional 50 shares in the last quarter. 17 Capital Partners LLC grew its stake in shares of Globant by 1.6% during the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after purchasing an additional 55 shares during the period. M&T Bank Corp grew its stake in shares of Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after purchasing an additional 60 shares during the period. ORG Partners LLC grew its stake in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 92 shares during the period. 91.60% of the stock is currently owned by institutional investors.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.