Globant (NYSE:GLOB) Now Covered by Susquehanna

Susquehanna assumed coverage on shares of Globant (NYSE:GLOB - Free Report) in a research report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a positive rating and a $255.00 price objective on the information technology services provider's stock.

Other analysts have also issued reports about the company. UBS Group reaffirmed a "neutral" rating and set a $235.00 target price (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their target price on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Piper Sandler decreased their price objective on shares of Globant from $240.00 to $237.00 and set an "overweight" rating for the company in a research report on Friday, November 15th. Jefferies Financial Group raised their price objective on Globant from $235.00 to $240.00 and gave the company a "buy" rating in a report on Monday, September 9th. Finally, Needham & Company LLC lifted their price target on shares of Globant from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Globant presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.44.

Globant Price Performance

GLOB traded up $7.99 during trading on Tuesday, reaching $226.92. 580,304 shares of the company's stock were exchanged, compared to its average volume of 480,005. The company's fifty day simple moving average is $220.34 and its 200-day simple moving average is $198.28. The stock has a market capitalization of $9.78 billion, a P/E ratio of 57.16, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. Globant has a 1 year low of $151.68 and a 1 year high of $251.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLOB. Equitable Trust Co. raised its stake in Globant by 1.1% during 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. M&T Bank Corp lifted its holdings 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 valued at $326,000 after acquiring an additional 60 shares during the last quarter. Franklin Resources Inc. grew its position in Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after acquiring an additional 71 shares during the period. ORG Partners LLC increased its stake in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 76 shares during the last quarter. Finally, Signaturefd LLC raised its position in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds 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.