Globant’s (GLOB) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of Globant (NYSE:GLOB) in a research report report published on Monday,Benzinga reports. Canaccord Genuity Group currently has a $205.00 target price on the information technology services provider’s stock.

GLOB has been the topic of several other research reports. JPMorgan Chase & Co. raised their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. 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. Piper Sandler lowered their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Citigroup lifted their target price on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC lifted their price target on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.06.

Globant Price Performance

Globant stock opened at $215.70 on Monday. The stock has a market cap of $9.29 billion, a PE ratio of 56.32, a P/E/G ratio of 2.49 and a beta of 1.39. The stock’s fifty day moving average is $209.32 and its two-hundred day moving average is $191.52. Globant has a 1-year low of $151.68 and a 1-year high of $251.50.

Institutional Investors Weigh In On Globant

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Globant during the 2nd quarter worth about $31,000. BOKF NA raised its stake in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. ORG Partners LLC lifted 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 in the last quarter. Finally, American National Bank & Trust boosted its stake in shares of Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.