UBS Group Has Lowered Expectations for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB) had its target price dropped by investment analysts at UBS Group from $222.00 to $217.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the information technology services provider’s stock. UBS Group’s price target points to a potential upside of 0.92% from the stock’s current price.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group reissued a “hold” rating and set a $205.00 price objective on shares of Globant in a report on Monday, November 18th. Susquehanna initiated coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective on the stock. Piper Sandler lowered their target price 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. Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. One research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.28.

Globant Stock Performance

NYSE GLOB opened at $215.03 on Monday. Globant has a 52 week low of $151.68 and a 52 week high of $248.94. The stock has a market capitalization of $9.27 billion, a P/E ratio of 56.14, a price-to-earnings-growth ratio of 2.33 and a beta of 1.39. The stock has a fifty day moving average of $217.19 and a 200-day moving average of $208.75.

Institutional Investors Weigh In On Globant

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of 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. ORG Partners LLC raised its position in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in Globant in the 4th quarter valued at approximately $38,000. Kestra Investment Management LLC acquired a new position in Globant during the 4th quarter worth approximately $38,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Globant during the 3rd quarter worth approximately $40,000. 91.60% of the stock is owned by 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.