Globant (NYSE:GLOB) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Globant (NYSE:GLOBFree Report) from a sell rating to a hold rating in a research report report published on Tuesday.

Several other equities analysts have also weighed in on the stock. Citigroup cut their price objective on shares of Globant from $235.00 to $215.00 and set a buy rating on the stock in a report on Friday, May 17th. Needham & Company LLC cut their price objective on shares of Globant from $275.00 to $200.00 and set a buy rating on the stock in a report on Friday, May 17th. UBS Group increased their price objective on shares of Globant from $230.00 to $240.00 and gave the company a neutral rating in a report on Monday, February 26th. HSBC cut their price objective on shares of Globant from $275.00 to $270.00 and set a buy rating on the stock in a report on Wednesday, April 3rd. Finally, Piper Sandler restated an overweight rating and issued a $238.00 price objective (down from $290.00) on shares of Globant in a report on Friday, May 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $225.00.

View Our Latest Analysis on GLOB

Globant Price Performance

Shares of NYSE GLOB opened at $174.00 on Tuesday. The company’s 50 day simple moving average is $190.37 and its 200 day simple moving average is $212.05. Globant has a fifty-two week low of $160.12 and a fifty-two week high of $251.50. The firm has a market capitalization of $7.50 billion, a P/E ratio of 45.67, a P/E/G ratio of 1.29 and a beta of 1.35.

Institutional Investors Weigh In On Globant

Large investors have recently made changes to their positions in the stock. CI Investments Inc. increased its position in shares of Globant by 122.0% during the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 72 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Globant during the fourth quarter worth $29,000. BOKF NA grew its position in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. RiverPark Advisors LLC bought a new position in Globant in the first quarter valued at $54,000. Finally, Principal Securities Inc. bought a new position in Globant in the fourth quarter valued at $56,000. Institutional investors own 91.60% of the company’s stock.

Globant Company Profile

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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.

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Analyst Recommendations for Globant (NYSE:GLOB)

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