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

Globant (NYSE:GLOB) had its price target raised by Jefferies Financial Group from $240.00 to $255.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the information technology services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 20.22% from the stock’s previous close.

Several other brokerages have also recently commented on GLOB. Canaccord Genuity Group reiterated a “hold” rating and issued a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. TD Cowen upped their price target on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Citigroup lifted their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Needham & Company LLC upped their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price target on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.28.

Globant Price Performance

Shares of GLOB stock traded down $1.42 during trading hours on Tuesday, reaching $212.11. 119,302 shares of the company’s stock were exchanged, compared to its average volume of 343,718. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The company has a market cap of $9.14 billion, a P/E ratio of 55.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.38. The company’s 50 day moving average is $219.80 and its two-hundred day moving average is $207.36.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares during the period. Dimensional Fund Advisors LP grew its holdings in Globant by 57.5% during 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 purchasing an additional 161,512 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Globant by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after buying an additional 153,385 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Globant by 89.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after buying an additional 126,030 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Globant by 84.8% in the 2nd quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider’s stock valued at $46,574,000 after buying an additional 119,860 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.