Globant (NYSE:GLOB) Price Target Raised to $220.00

Globant (NYSE:GLOB) had its target price raised by Scotiabank from $210.00 to $220.00 in a report published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the information technology services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. KeyCorp raised their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Piper Sandler decreased their price target on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Jefferies Financial Group increased their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Needham & Company LLC boosted their target price on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and an average target price of $229.06.

Globant Stock Performance

Shares of Globant stock opened at $222.37 on Tuesday. Globant has a one year low of $151.68 and a one year high of $251.50. The company has a market cap of $9.58 billion, a P/E ratio of 58.06, a PEG ratio of 2.55 and a beta of 1.39. The firm has a fifty day moving average of $210.11 and a two-hundred day moving average of $191.90.

Institutional Investors Weigh In On Globant

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after acquiring an additional 8,267 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Globant during the first quarter worth about $577,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Globant in the 1st quarter worth about $196,000. PEAK6 Investments LLC purchased a new stake in Globant in the 1st quarter valued at about $858,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd increased its stake in shares of Globant by 5.7% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 11,960 shares of the information technology services provider’s stock valued at $2,415,000 after acquiring an additional 650 shares during 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.