Globant (NYSE:GLOB) Given Buy Rating at Needham & Company LLC

Globant (NYSE:GLOB)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $265.00 target price on the information technology services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 30.10% from the stock’s previous close.

Other research analysts have also issued research reports about the company. TD Cowen boosted their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. JPMorgan Chase & Co. increased their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Scotiabank boosted their target price on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Citigroup raised their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and a consensus price target of $231.28.

Globant Stock Down 2.1 %

Shares of GLOB stock opened at $203.68 on Friday. The company has a market cap of $8.78 billion, a P/E ratio of 53.18, a PEG ratio of 2.26 and a beta of 1.38. The business has a 50 day moving average of $218.30 and a two-hundred day moving average of $207.76. Globant has a 52 week low of $151.68 and a 52 week high of $251.50.

Institutional Investors Weigh In On Globant

A number of institutional investors and hedge funds have recently bought and sold shares of GLOB. Quarry LP lifted its position 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 valued at $30,000 after acquiring an additional 143 shares during the last quarter. ORG Partners LLC raised its position in shares of 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 purchasing an additional 76 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Globant during the third quarter valued at $40,000. American National Bank & Trust boosted its position 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 purchasing an additional 185 shares during the period. Finally, Signaturefd LLC boosted its position in shares of 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 period. 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.