Globant (NYSE:GLOB) Price Target Raised to $220.00

Globant (NYSE:GLOB) had its target price raised by Scotiabank from $210.00 to $220.00 in a research report report published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the information technology services provider’s stock.

Several other equities research analysts also recently weighed in on the company. UBS Group reissued a “neutral” rating and set a $235.00 price objective (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. TD Cowen raised their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Needham & Company LLC raised their price objective on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group raised their price objective on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $205.00 price objective on shares of Globant in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.06.

Globant Stock Performance

Shares of GLOB stock opened at $229.28 on Tuesday. The stock’s fifty day moving average price is $210.11 and its two-hundred day moving average price is $191.90. The company has a market cap of $9.88 billion, a PE ratio of 58.06, a P/E/G ratio of 2.55 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after buying an additional 8,267 shares in the last quarter. Cetera Investment Advisers increased its position in Globant by 1,079.8% in the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after buying an additional 18,433 shares in the last quarter. Creative Planning increased its position in Globant by 20.5% in the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 351 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in Globant by 97.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock valued at $27,548,000 after buying an additional 76,256 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Globant in the 2nd quarter valued at about $1,319,000. 91.60% of the stock is 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.