Globant S.A. (NYSE:GLOB) Receives Average Rating of “Moderate Buy” from Brokerages

Globant S.A. (NYSE:GLOB) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $230.44.

Several equities research analysts have recently commented on GLOB shares. Scotiabank raised their target price on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group restated a “hold” rating and issued 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 research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target on the stock. Citigroup lifted their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. 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 report on Wednesday, October 30th.

Globant Stock Performance

NYSE GLOB opened at $219.46 on Wednesday. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock has a market cap of $9.46 billion, a P/E ratio of 57.30, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. The stock has a 50 day simple moving average of $221.45 and a two-hundred day simple moving average of $200.60.

Hedge Funds Weigh In On Globant

Institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in Globant by 529.6% during the second 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. Ridgewood Investments LLC bought a new stake in shares of Globant in the 2nd quarter valued at about $31,000. ORG Partners LLC boosted its stake in shares of Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Globant during the third quarter valued at approximately $40,000. Finally, American National Bank & Trust increased its holdings in Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 185 shares during the period. 91.60% of the stock is owned by hedge funds and other 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.