Jefferies Financial Group Increases Globant (NYSE:GLOB) Price Target to $255.00

Globant (NYSE:GLOB) had its target price hoisted by investment analysts at Jefferies Financial Group from $240.00 to $255.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 23.36% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC boosted their price target on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. TD Cowen increased their price target on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Piper Sandler reduced their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $205.00 price target on shares of Globant in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.28.

Globant Trading Down 1.8 %

NYSE:GLOB opened at $206.71 on Tuesday. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The company has a market cap of $8.91 billion, a P/E ratio of 53.97, a P/E/G ratio of 2.33 and a beta of 1.38. The company’s 50-day moving average price is $219.30 and its 200-day moving average price is $207.60.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently made changes to their positions in GLOB. Quarry LP boosted its position in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares during the period. ORG Partners LLC boosted its holdings in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant during the third quarter worth approximately $40,000. American National Bank & Trust increased its holdings in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares during the period. Finally, Signaturefd LLC raised its position in Globant by 46.0% in 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 last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Company Profile

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.