Globant (NYSE:GLOB) Given Buy Rating at Needham & Company LLC

Globant (NYSE:GLOB - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $265.00 price target on the information technology services provider's stock. Needham & Company LLC's target price would indicate a potential upside of 30.30% from the stock's previous close.

A number of other equities analysts also recently commented on GLOB. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a report on Sunday, November 24th. Scotiabank boosted their price target on Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 19th. Susquehanna began coverage on shares of Globant in a research note on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective on the stock. Citigroup raised their target price on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and an average price target of $231.28.

Globant Stock Down 2.3 %

Globant stock traded down $4.77 during trading hours on Friday, hitting $203.37. The stock had a trading volume of 165,513 shares, compared to its average volume of 410,966. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The company has a market cap of $8.76 billion, a PE ratio of 53.10, a price-to-earnings-growth ratio of 2.26 and a beta of 1.38. The company has a 50-day moving average of $218.70 and a two-hundred day moving average of $207.59.

Institutional Trading of Globant

Several hedge funds have recently added to or reduced their stakes in the company. Equitable Trust Co. increased its position in Globant by 1.1% during the 3rd 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 during the period. M&T Bank Corp increased its position 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 acquiring an additional 60 shares during the period. Franklin Resources Inc. raised its stake in Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after purchasing an additional 71 shares in the last quarter. ORG Partners LLC boosted its holdings in Globant by 65.5% in 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 during the period. Finally, Signaturefd LLC grew its position in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after purchasing an additional 92 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.