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

Globant (NYSE:GLOB) had its target price upped by investment analysts at Scotiabank from $210.00 to $220.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the information technology services provider’s stock. Scotiabank’s price target would suggest a potential upside of 6.96% from the company’s current price.

Other research analysts also recently issued reports about the company. KeyCorp upped their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Needham & Company LLC upped their price target on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup lifted their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. Finally, StockNews.com cut Globant from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.06.

Globant Price Performance

GLOB traded up $1.59 during trading on Tuesday, hitting $205.68. The company had a trading volume of 46,507 shares, compared to its average volume of 483,586. The company has a market cap of $8.86 billion, a PE ratio of 53.70, a P/E/G ratio of 2.49 and a beta of 1.39. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The business has a 50-day moving average of $209.12 and a 200-day moving average of $191.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP raised its holdings in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 143 shares during the period. Ridgewood Investments LLC purchased a new stake in Globant in the 2nd quarter worth about $31,000. BOKF NA boosted its position in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 158 shares during the period. ORG Partners LLC lifted its position in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Finally, American National Bank & Trust boosted its holdings 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 worth $45,000 after purchasing an additional 185 shares during the period. 91.60% of the stock is currently 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.