Globant’s (GLOB) Hold Rating Reiterated at Canaccord Genuity Group

Globant (NYSE:GLOB)‘s stock had its “hold” rating reiterated by research analysts at Canaccord Genuity Group in a note issued to investors on Monday,Benzinga reports. They currently have a $205.00 price target on the information technology services provider’s stock. Canaccord Genuity Group’s price objective would suggest a potential downside of 1.72% from the stock’s current price.

Several other equities research analysts have also recently weighed in on GLOB. 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 note on Wednesday, October 30th. Piper Sandler reduced their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. UBS Group reissued a “neutral” rating and set a $235.00 price target (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. StockNews.com cut shares of Globant from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.06.

Globant Stock Performance

GLOB stock opened at $208.59 on Monday. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 53.70, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39. The business’s 50 day moving average price is $209.12 and its two-hundred day moving average price is $191.36.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. Vanguard Group Inc. boosted its position in shares of Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Globant in the 1st quarter valued at $577,000. Clearbridge Investments LLC raised its stake in Globant by 24.0% in the 1st quarter. Clearbridge Investments LLC now owns 264,598 shares of the information technology services provider’s stock worth $53,422,000 after acquiring an additional 51,245 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Globant during the 1st quarter worth about $196,000. Finally, PEAK6 Investments LLC purchased a new stake in Globant during the 1st quarter valued at about $858,000. 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.