Globant S.A. (NYSE:GLOB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Globant S.A. (NYSE:GLOB) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $229.06.

Several research analysts recently commented on GLOB shares. JPMorgan Chase & Co. increased their target price on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. TD Cowen lifted their target price on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC increased their price target on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group restated a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently made changes to their positions in the company. Quarry LP boosted its stake in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Globant during the second quarter worth $31,000. ORG Partners LLC boosted its position in shares of Globant by 65.5% in 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 period. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the third quarter valued at about $40,000. Finally, American National Bank & Trust grew its stake in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 0.6 %

Shares of GLOB opened at $228.17 on Friday. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a market capitalization of $9.83 billion, a P/E ratio of 59.57, a P/E/G ratio of 2.83 and a beta of 1.39. The company has a 50 day moving average of $214.47 and a 200-day moving average of $193.86.

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.