Globant S.A. (NYSE:GLOB) Given Consensus Rating of “Moderate Buy” by Analysts

Globant S.A. (NYSE:GLOB) has been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $230.28.

A number of analysts recently weighed in on GLOB shares. JPMorgan Chase & Co. increased their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Citigroup boosted their price target on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Finally, TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Institutional Investors Weigh In On Globant

Institutional investors have recently modified their holdings of the company. ORG Partners LLC boosted its position 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 purchasing an additional 76 shares in the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of Globant in the 4th quarter worth about $38,000. Kestra Investment Management LLC acquired a new stake in Globant in the 4th quarter valued at about $38,000. Wilmington Savings Fund Society FSB purchased a new position in Globant during the 3rd quarter valued at about $40,000. Finally, Van Berkom & Associates Inc. acquired a new position in Globant during the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Down 2.4 %

Shares of NYSE GLOB opened at $217.58 on Thursday. The stock has a market cap of $9.37 billion, a P/E ratio of 56.81, a P/E/G ratio of 2.54 and a beta of 1.39. The stock has a 50 day moving average of $215.62 and a two-hundred day moving average of $210.78. Globant has a twelve month low of $151.68 and a twelve month high of $238.32.

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.