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

Globant S.A. (NYSE:GLOB) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $229.06.

Several research firms recently commented on GLOB. Canaccord Genuity Group reissued a “hold” rating and set a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Piper Sandler dropped their price objective on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Needham & Company LLC upped their target price on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

Institutional Trading of Globant

Several institutional investors and hedge funds have recently modified their holdings of the company. Equitable Trust Co. grew its stake in Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after acquiring an additional 50 shares in the last quarter. 17 Capital Partners LLC grew its stake in Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. M&T Bank Corp grew its stake in 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 acquiring an additional 60 shares in the last quarter. Franklin Resources Inc. grew its stake in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after acquiring an additional 71 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Up 1.4 %

Shares of GLOB opened at $225.11 on Friday. The firm’s 50-day moving average price is $216.28 and its 200-day moving average price is $195.04. The firm has a market capitalization of $9.70 billion, a price-to-earnings ratio of 58.78, a PEG ratio of 2.79 and a beta of 1.37. Globant has a 1-year low of $151.68 and a 1-year high of $251.50.

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.