Globant (NYSE:GLOB) Given New $240.00 Price Target at TD Cowen

Globant (NYSE:GLOB) had its price target hoisted by TD Cowen from $230.00 to $240.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

A number of other research analysts have also recently commented on the company. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group reissued a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Needham & Company LLC lifted their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.50.

Globant Trading Up 0.4 %

NYSE GLOB opened at $204.09 on Friday. The stock’s 50 day moving average is $208.98 and its 200 day moving average is $191.19. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The stock has a market cap of $8.79 billion, a PE ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Equitable Trust Co. increased its stake in Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 50 shares during the period. 17 Capital Partners LLC increased its stake in Globant by 1.6% in the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after purchasing an additional 55 shares during the period. M&T Bank Corp increased its stake in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the period. ORG Partners LLC increased its stake in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Finally, Signaturefd LLC increased its stake in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.