Globant S.A. (NYSE:GLOB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Globant S.A. (NYSE:GLOB) have been given an average recommendation of “Moderate Buy” by the eighteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $230.44.

Several analysts have weighed in on GLOB shares. Susquehanna assumed coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. Piper Sandler cut their price target on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. Needham & Company LLC increased their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Scotiabank boosted their target price on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after acquiring an additional 1,431,112 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after purchasing an additional 161,512 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Globant by 89.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after buying an additional 126,030 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of NYSE:GLOB opened at $213.48 on Friday. The business has a fifty day moving average of $220.21 and a 200-day moving average of $206.88. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The firm has a market cap of $9.20 billion, a PE ratio of 55.74, a price-to-earnings-growth ratio of 2.26 and a beta of 1.38.

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.