Globant (NYSE:GLOB) Raised to “Hold” at StockNews.com

Globant (NYSE:GLOB) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts also recently issued reports on GLOB. UBS Group reissued a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. TD Cowen lifted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed 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. JPMorgan Chase & Co. upped their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC increased their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $229.06.

Globant Stock Performance

Globant stock opened at $231.06 on Friday. Globant has a one year low of $151.68 and a one year high of $251.50. The stock has a market cap of $9.96 billion, a PE ratio of 60.33, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39. The stock has a 50-day moving average of $211.43 and a two-hundred day moving average of $192.57.

Hedge Funds Weigh In On Globant

Institutional investors and hedge funds have recently made changes to their positions in the stock. Equitable Trust Co. lifted its position in shares of Globant by 1.1% during 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 during the last quarter. 17 Capital Partners LLC lifted its stake in shares of Globant by 1.6% in the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after acquiring an additional 55 shares during the period. M&T Bank Corp boosted its stake in shares of Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. 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 worth $38,000 after purchasing an additional 76 shares during the period. Finally, Signaturefd LLC increased its holdings in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.