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

Shares of Globant S.A. (NYSE:GLOB) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently 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 target price among analysts that have issued a report on the stock in the last year is $230.44.

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

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently bought and sold shares of GLOB. Victory Capital Management Inc. grew its stake in shares of Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after buying an additional 1,431,112 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Globant by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after acquiring an additional 161,512 shares in the last quarter. Sei Investments Co. grew its stake in Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after acquiring an additional 155,112 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after acquiring an additional 153,385 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Globant by 89.9% during the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after purchasing an additional 126,030 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Stock Down 1.6 %

Shares of GLOB opened at $213.48 on Friday. The business has a 50-day simple moving average of $220.21 and a two-hundred day simple moving average of $206.88. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The stock has a market cap of $9.20 billion, a PE ratio of 55.74, a PEG ratio of 2.26 and a beta of 1.38.

About Globant

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.