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

Shares of Globant S.A. (NYSE:GLOB) have been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, MarketBeat reports. One equities research 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $230.28.

A number of brokerages recently commented on GLOB. Canaccord Genuity Group reissued a “hold” rating and issued a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. TD Cowen upped their price target on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank upped their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reduced their price target on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th.

Globant Stock Performance

Shares of NYSE GLOB opened at $218.58 on Thursday. The firm has a market capitalization of $9.42 billion, a price-to-earnings ratio of 57.07, a PEG ratio of 2.46 and a beta of 1.39. The stock has a 50 day moving average price of $215.78 and a 200 day moving average price of $209.69. Globant has a 52-week low of $151.68 and a 52-week high of $243.35.

Institutional Investors Weigh In On Globant

Several hedge funds have recently added to or reduced their stakes in GLOB. Creative Planning boosted its stake in shares of Globant by 20.5% during the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after acquiring an additional 351 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Globant during the 3rd quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Globant by 18.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after buying an additional 8,427 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Globant by 121.3% in the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock valued at $6,014,000 after buying an additional 16,639 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Globant by 32.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock valued at $40,447,000 after buying an additional 49,597 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

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.