Analysts Set Globant S.A. (NYSE:GLOB) Target Price at $230.44

Shares of Globant S.A. (NYSE:GLOB) have been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $230.44.

A number of analysts have recently commented on the company. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Scotiabank increased their price objective on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. raised their target price 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, Citigroup upped their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th.

Globant Stock Down 1.1 %

Shares of Globant stock opened at $217.60 on Wednesday. The firm has a market capitalization of $9.38 billion, a P/E ratio of 56.81, a P/E/G ratio of 2.72 and a beta of 1.37. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The firm’s 50 day moving average is $221.61 and its two-hundred day moving average is $201.76.

Hedge Funds Weigh In On Globant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Globant during the 2nd quarter valued at $31,000. ORG Partners LLC increased its position in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the third quarter worth $40,000. Finally, American National Bank & Trust raised its holdings in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 185 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.