Scotiabank Issues Positive Forecast for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB - Free Report) had its price objective raised by Scotiabank from $210.00 to $220.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a sector perform rating on the information technology services provider's stock.

Several other research analysts have also weighed in on the company. TD Cowen lifted their price objective on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday, August 22nd. They set a "hold" rating and a $210.00 target price on the stock. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a report on Saturday. KeyCorp raised their target price on Globant from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, August 16th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $205.00 price target on shares of Globant in a research note on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $229.06.

Globant Trading Up 2.2 %

GLOB stock traded up $4.50 during trading on Tuesday, hitting $208.59. The company had a trading volume of 654,858 shares, compared to its average volume of 486,302. The business has a 50-day moving average of $209.12 and a 200-day moving average of $191.36. Globant has a one year low of $151.68 and a one year high of $251.50. The stock has a market cap of $8.99 billion, a PE ratio of 53.70, a PEG ratio of 2.49 and a beta of 1.39.

Institutional Trading of Globant

Hedge funds have recently bought and sold shares of the business. 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 valued at $22,681,000 after acquiring an additional 8,267 shares during the period. Edgestream Partners L.P. bought a new stake in Globant in the 1st quarter valued at about $577,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Globant in the 1st quarter valued at about $196,000. PEAK6 Investments LLC bought a new stake in Globant in the 1st quarter valued at about $858,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd raised its stake in Globant by 5.7% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 11,960 shares of the information technology services provider's stock valued at $2,415,000 after acquiring an additional 650 shares during the period. 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.