Globant S.A. (NYSE:GLOB) Receives $230.44 Average Price Target from Analysts

Shares of Globant S.A. (NYSE:GLOB) have earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $231.28.

GLOB has been the subject of a number of research analyst reports. TD Cowen lifted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Citigroup lifted their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. increased their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Piper Sandler cut their price target on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Scotiabank increased their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th.

Hedge Funds Weigh In On Globant

Several hedge funds have recently added to or reduced their stakes in GLOB. Creative Planning raised its stake in Globant by 20.5% during the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after buying an additional 351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Globant in the third quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Globant by 18.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after purchasing an additional 8,427 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Globant by 121.3% during the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock valued at $6,014,000 after purchasing an additional 16,639 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Globant in the 2nd quarter valued at approximately $1,319,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Up 0.4 %

Shares of Globant stock opened at $207.95 on Friday. The stock has a market capitalization of $8.96 billion, a P/E ratio of 54.29, a price-to-earnings-growth ratio of 2.30 and a beta of 1.38. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a 50-day simple moving average of $218.70 and a 200 day simple moving average of $207.59.

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.