UBS Group Has Lowered Expectations for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB) had its price objective reduced by UBS Group from $222.00 to $217.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the information technology services provider’s stock.

GLOB has been the subject of a number of other research reports. Piper Sandler cut their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. TD Cowen raised their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Citigroup raised their target price on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Scotiabank upped their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and an average price target of $230.28.

Globant Stock Down 0.7 %

NYSE:GLOB opened at $211.90 on Monday. The business’s 50-day simple moving average is $217.57 and its two-hundred day simple moving average is $208.64. Globant has a 52 week low of $151.68 and a 52 week high of $248.94. The stock has a market cap of $9.13 billion, a PE ratio of 55.33, a P/E/G ratio of 2.33 and a beta of 1.39.

Institutional Investors Weigh In On Globant

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Globant in the 2nd quarter valued at about $1,319,000. Quarry LP lifted its holdings in Globant by 529.6% in the second 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. Cetera Investment Advisers grew its position in Globant by 5.9% in the second quarter. Cetera Investment Advisers now owns 21,327 shares of the information technology services provider’s stock worth $3,802,000 after acquiring an additional 1,187 shares during the period. Sanctuary Advisors LLC acquired a new stake in Globant during the second quarter worth $474,000. Finally, Handelsbanken Fonder AB raised its position in Globant by 42.2% in the third quarter. Handelsbanken Fonder AB now owns 11,800 shares of the information technology services provider’s stock valued at $2,338,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.