Brokerages Set Globant S.A. (NYSE:GLOB) Target Price at $230.28

Shares of Globant S.A. (NYSE:GLOB) have earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $230.28.

A number of equities research analysts have commented on the company. Citigroup increased their price target on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Susquehanna assumed coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. TD Cowen increased their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price target on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vident Advisory LLC purchased a new position in Globant during the fourth quarter valued at approximately $235,000. Teza Capital Management LLC acquired a new stake in Globant in the fourth quarter valued at approximately $8,650,000. Royal Bank of Canada grew its holdings in Globant by 15.4% in the fourth quarter. Royal Bank of Canada now owns 254,107 shares of the information technology services provider’s stock valued at $54,486,000 after purchasing an additional 33,921 shares during the period. Raiffeisen Bank International AG acquired a new stake in Globant in the fourth quarter valued at approximately $171,000. Finally, Polar Capital Holdings Plc grew its holdings in Globant by 4.7% in the fourth quarter. Polar Capital Holdings Plc now owns 330,897 shares of the information technology services provider’s stock valued at $70,951,000 after purchasing an additional 14,730 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of GLOB stock opened at $224.28 on Thursday. Globant has a 1-year low of $151.68 and a 1-year high of $243.35. The stock’s 50-day moving average is $215.67 and its 200 day moving average is $210.32. The company has a market cap of $9.66 billion, a P/E ratio of 58.56, a PEG ratio of 2.46 and a beta of 1.39.

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.