Globant (NYSE:GLOB) Price Target Lowered to $217.00 at UBS Group

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

GLOB has been the topic of a number of other reports. TD Cowen lifted their price objective 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. Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target on the stock. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Canaccord Genuity Group reiterated a “hold” rating and issued a $205.00 target price on shares of Globant in a research report on Monday, November 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $265.00 target price on shares of Globant in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.28.

Globant Stock Down 0.6 %

GLOB stock opened at $213.72 on Monday. The company’s 50-day moving average price is $216.87 and its two-hundred day moving average price is $208.89. The firm has a market cap of $9.21 billion, a P/E ratio of 55.80, a P/E/G ratio of 2.33 and a beta of 1.39. Globant has a 12 month low of $151.68 and a 12 month high of $245.81.

Hedge Funds Weigh In On Globant

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Equitable Trust Co. increased its position in Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after purchasing an additional 50 shares during the period. M&T Bank Corp raised its stake in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the last quarter. Franklin Resources Inc. raised its stake in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after buying an additional 71 shares during the last quarter. ORG Partners LLC boosted its position in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.