Globant S.A. (NYSE:GLOB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Globant S.A. (NYSE:GLOB) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $230.44.

A number of brokerages have issued reports on GLOB. JPMorgan Chase & Co. upped their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler dropped their price objective on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. TD Cowen increased their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Needham & Company LLC raised their target price on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Citigroup upped their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th.

Hedge Funds Weigh In On Globant

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP lifted its holdings in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Globant during the 2nd quarter worth $31,000. ORG Partners LLC grew its stake in Globant by 65.5% in the third 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in Globant in the third quarter worth about $40,000. Finally, American National Bank & Trust lifted its position in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 185 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Down 1.1 %

Shares of NYSE GLOB opened at $217.60 on Wednesday. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The firm’s 50-day moving average price is $221.61 and its 200-day moving average price is $202.38. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 56.81, a P/E/G ratio of 2.72 and a beta of 1.37.

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.