Globant S.A. (NYSE:GLOB) Receives $229.06 Average Target Price from Analysts

Globant S.A. (NYSE:GLOB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nineteen research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $229.06.

A number of analysts recently weighed in on GLOB shares. 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. UBS Group reissued a "neutral" rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. 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. Canaccord Genuity Group reissued a "hold" rating and issued a $205.00 price objective on shares of Globant in a research report on Monday, November 18th. Finally, Scotiabank upped their price objective on shares of Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 19th.

Globant Stock Down 0.8 %

Shares of NYSE GLOB traded down $1.79 during trading on Friday, hitting $227.76. 138,971 shares of the company traded hands, compared to its average volume of 482,699. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The company has a 50-day moving average price of $214.47 and a 200-day moving average price of $193.86. The firm has a market capitalization of $9.81 billion, a P/E ratio of 59.57, a P/E/G ratio of 2.83 and a beta of 1.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Equitable Trust Co. boosted its holdings 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 buying an additional 50 shares in the last quarter. 17 Capital Partners LLC boosted its holdings in Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider's stock worth $616,000 after buying an additional 55 shares in the last quarter. M&T Bank Corp boosted its holdings in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock worth $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after buying an additional 71 shares in the last quarter. Finally, ORG Partners LLC boosted its holdings 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 buying an additional 76 shares in the last quarter. 91.60% of the stock is currently owned by 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.