Globant (NYSE:GLOB) Stock Rating Upgraded by StockNews.com

Globant (NYSE:GLOB - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

GLOB has been the topic of several other research reports. Jefferies Financial Group upped their price target on shares of Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a "hold" rating and a $210.00 target price for the company. Citigroup boosted their price objective on Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Needham & Company LLC increased their target price on Globant from $245.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, TD Cowen boosted their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Globant has an average rating of "Moderate Buy" and a consensus target price of $229.06.

Globant Stock Up 2.9 %

NYSE:GLOB traded up $6.56 during trading hours on Friday, reaching $229.25. 392,395 shares of the company's stock were exchanged, compared to its average volume of 522,138. The company has a market capitalization of $9.88 billion, a P/E ratio of 59.86, a price-to-earnings-growth ratio of 2.72 and a beta of 1.39. The business's 50-day simple moving average is $210.75 and its two-hundred day simple moving average is $192.16. Globant has a 12 month low of $151.68 and a 12 month high of $251.50.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. Quarry LP lifted its position in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Globant during the second quarter worth $31,000. BOKF NA grew its stake in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 158 shares in the last quarter. ORG Partners LLC raised its position in Globant by 65.5% during the 3rd 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. Finally, American National Bank & Trust raised its holdings in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other 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.