Globant (NYSE:GLOB) Coverage Initiated by Analysts at Susquehanna

Susquehanna initiated coverage on shares of Globant (NYSE:GLOB) in a report issued on Tuesday, Marketbeat.com reports. The brokerage issued a positive rating and a $255.00 price objective on the information technology services provider’s stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. upped their price target on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank upped their target price on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 price target on shares of Globant in a research note on Monday, November 18th. UBS Group reissued a “neutral” rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Finally, Citigroup upped 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.44.

Globant Trading Up 3.6 %

GLOB stock opened at $226.92 on Tuesday. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 59.25, a PEG ratio of 2.72 and a beta of 1.37. The firm’s 50-day moving average price is $220.64 and its two-hundred day moving average price is $198.74. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GLOB. Oddo BHF Asset Management Sas bought a new position in shares of Globant during the third quarter valued at $10,814,000. Franklin Resources Inc. increased its stake in Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after purchasing an additional 71 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Globant in the third quarter worth about $40,000. Sanctuary Advisors LLC lifted its stake in shares of Globant by 26.2% in the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock worth $656,000 after buying an additional 688 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of 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 valued at $326,000 after buying an additional 60 shares during the last quarter. Hedge funds and other 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.