StockNews.com Upgrades Globant (NYSE:GLOB) to Hold

Globant (NYSE:GLOB) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Sunday.

GLOB has been the topic of several other reports. Jefferies Financial Group lifted their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Scotiabank raised their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. 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. Citigroup boosted their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, UBS Group restated a “neutral” rating and set a $235.00 price target (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $229.06.

Globant Stock Performance

Globant stock opened at $231.06 on Friday. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 60.33, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39. The firm’s 50 day moving average price is $211.43 and its two-hundred day moving average price is $192.57. Globant has a 1 year low of $151.68 and a 1 year high of $251.50.

Institutional Inflows and Outflows

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

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.