Globant (NYSE:GLOB) Upgraded at StockNews.com

StockNews.com upgraded shares of Globant (NYSE:GLOB) from a sell rating to a hold rating in a research note released on Sunday.

A number of other research firms have also issued reports on GLOB. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. KeyCorp boosted their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Canaccord Genuity Group reiterated a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. Finally, Scotiabank upped their price objective on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $229.06.

Globant Stock Down 0.0 %

GLOB opened at $230.93 on Friday. The company has a market cap of $9.95 billion, a price-to-earnings ratio of 60.30, a PEG ratio of 2.80 and a beta of 1.39. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The firm’s fifty day simple moving average is $212.20 and its two-hundred day simple moving average is $192.98.

Institutional Trading of Globant

A number of institutional investors have recently modified their holdings of GLOB. Vanguard Group Inc. increased its holdings in shares of Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after purchasing an additional 8,267 shares in the last quarter. Cetera Investment Advisers grew its holdings in Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after buying an additional 18,433 shares during the last quarter. Creative Planning increased its position 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 purchasing an additional 351 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Globant by 97.4% in the second quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock valued at $27,548,000 after buying an additional 76,256 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Globant during the 2nd quarter worth $1,319,000. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.