Analysts Set Globant S.A. (NYSE:GLOB) PT at $230.28

Globant S.A. (NYSE:GLOB) has been assigned a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $230.28.

A number of research analysts have issued reports on the stock. TD Cowen upped 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. Citigroup raised their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Canaccord Genuity Group reiterated a “hold” rating and issued a $205.00 price target on shares of Globant in a report on Monday, November 18th. JPMorgan Chase & Co. raised their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Piper Sandler dropped their target price on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday, November 15th.

Institutional Trading of Globant

Institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC lifted its stake 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 in the last quarter. Centricity Wealth Management LLC acquired a new position in Globant during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC purchased a new position in Globant in the 4th quarter worth approximately $38,000. Wilmington Savings Fund Society FSB acquired a new stake in Globant in the third quarter valued at approximately $40,000. Finally, Van Berkom & Associates Inc. purchased a new stake in shares of Globant during the fourth quarter valued at approximately $45,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Down 2.4 %

GLOB opened at $217.58 on Thursday. The firm has a market cap of $9.37 billion, a P/E ratio of 56.81, a PEG ratio of 2.54 and a beta of 1.39. The business’s fifty day simple moving average is $215.62 and its 200 day simple moving average is $210.78. Globant has a 52 week low of $151.68 and a 52 week high of $238.32.

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.