Globant (NYSE:GLOB) Given New $255.00 Price Target at Jefferies Financial Group

Globant (NYSE:GLOB) had its price target lifted by Jefferies Financial Group from $240.00 to $255.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

GLOB has been the topic of a number of other reports. Citigroup boosted their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Scotiabank raised their target price on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped 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. Needham & Company LLC raised their price objective 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, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and a consensus target price of $231.28.

Globant Trading Up 0.4 %

GLOB stock opened at $207.95 on Tuesday. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The company has a market cap of $8.96 billion, a P/E ratio of 54.29, a P/E/G ratio of 2.30 and a beta of 1.38. The company’s 50-day moving average price is $218.70 and its 200 day moving average price is $207.59.

Hedge Funds Weigh In On Globant

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after buying an additional 161,512 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Globant by 7.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,296 shares of the information technology services provider’s stock valued at $409,000 after acquiring an additional 156 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Globant by 29.7% in the second quarter. Thrivent Financial for Lutherans now owns 83,525 shares of the information technology services provider’s stock worth $14,890,000 after acquiring an additional 19,128 shares during the last quarter. Hood River Capital Management LLC bought a new position in Globant during the second quarter worth $4,172,000. Finally, Marshall Wace LLP acquired a new position in Globant during the 2nd quarter valued at $1,319,000. 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.