Globant S.A. (NYSE:GLOB) Receives $230.28 Average PT from Analysts

Shares of Globant S.A. (NYSE:GLOB - Get Free Report) have received an average recommendation of "Moderate Buy" from the eighteen research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $230.28.

A number of brokerages recently commented on GLOB. StockNews.com upgraded Globant from a "sell" rating to a "hold" rating in a research note on Sunday, November 24th. Citigroup raised their price objective on shares of Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Needham & Company LLC reissued a "buy" rating and issued a $265.00 price target on shares of Globant in a research report on Friday, January 24th. UBS Group cut their price target on shares of Globant from $222.00 to $217.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Finally, Scotiabank upped their price objective on Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 19th.

Globant Stock Down 1.9 %

NYSE GLOB traded down $4.46 during trading on Thursday, hitting $224.28. The company's stock had a trading volume of 473,248 shares, compared to its average volume of 440,014. The firm has a 50 day moving average price of $215.67 and a 200 day moving average price of $210.32. The firm has a market cap of $9.66 billion, a P/E ratio of 58.56, a price-to-earnings-growth ratio of 2.46 and a beta of 1.39. Globant has a 52 week low of $151.68 and a 52 week high of $243.35.

Institutional Investors Weigh In On Globant

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning grew its holdings in Globant by 20.5% during the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider's stock worth $409,000 after acquiring an additional 351 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Globant during the 3rd quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider's stock worth $10,663,000 after acquiring an additional 8,427 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Globant by 121.3% during the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock worth $6,014,000 after acquiring an additional 16,639 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Globant by 32.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider's stock worth $40,447,000 after acquiring an additional 49,597 shares during the last quarter. Institutional investors 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.