Globant S.A. (NYSE:GLOB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Globant S.A. (NYSE:GLOB) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $229.06.

A number of equities research analysts have recently weighed in on GLOB shares. TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC boosted their price objective on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group upped their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Citigroup lifted their price target on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Scotiabank increased their price objective on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th.

Institutional Trading of Globant

A number of large investors have recently bought and sold shares of GLOB. Creative Planning boosted its holdings in shares of Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 351 shares during the period. Vanguard Group Inc. lifted its position in Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after acquiring an additional 8,267 shares in the last quarter. Cetera Investment Advisers boosted its stake in Globant by 1,079.8% in the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock worth $4,066,000 after purchasing an additional 18,433 shares during the period. Brown Brothers Harriman & Co. increased its holdings in 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 purchasing an additional 76,256 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Globant during the 2nd quarter worth about $1,319,000. 91.60% of the stock is owned by institutional investors.

Globant Price Performance

GLOB stock opened at $228.17 on Friday. The company has a 50 day moving average price of $214.47 and a 200 day moving average price of $193.86. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock has a market capitalization of $9.83 billion, a PE ratio of 59.57, a price-to-earnings-growth ratio of 2.83 and a beta of 1.39.

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.