Globant S.A. (NYSE:GLOB) Given Consensus Rating of "Moderate Buy" by Brokerages

Globant S.A. (NYSE:GLOB - Get Free Report) has received a consensus rating of "Moderate Buy" from the eighteen ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $230.44.

Several equities research analysts have recently issued reports on the company. Scotiabank lifted their target price on Globant from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 19th. TD Cowen lifted their price objective on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Canaccord Genuity Group reiterated a "hold" rating and set a $205.00 target price on shares of Globant in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC upped 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.

Institutional Investors Weigh In On Globant

Several institutional investors have recently added to or reduced their stakes in GLOB. Victory Capital Management Inc. increased its position in shares of Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider's stock valued at $299,162,000 after acquiring an additional 1,431,112 shares during the period. Dimensional Fund Advisors LP lifted its stake in Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock valued at $78,851,000 after acquiring an additional 161,512 shares during the period. Sei Investments Co. boosted its holdings in shares of Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock valued at $91,432,000 after acquiring an additional 155,112 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Globant by 89.9% during the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider's stock worth $47,450,000 after purchasing an additional 126,030 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Globant by 84.8% during the second quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider's stock valued at $46,574,000 after purchasing an additional 119,860 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Performance

Shares of Globant stock traded down $0.08 during trading hours on Wednesday, hitting $219.46. The company's stock had a trading volume of 101,778 shares, compared to its average volume of 479,540. The company has a market cap of $9.46 billion, a PE ratio of 57.30, a PEG ratio of 2.72 and a beta of 1.37. The business has a 50 day moving average price of $221.60 and a two-hundred day moving average price of $201.06. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

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.