Brokerages Set Globant S.A. (NYSE:GLOB) Price Target at $230.44

Globant S.A. (NYSE:GLOB) has been assigned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $230.44.

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Finally, Piper Sandler reduced their target price on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday, November 15th.

Globant Price Performance

Globant stock opened at $217.60 on Wednesday. The business has a fifty day moving average price of $221.61 and a 200-day moving average price of $202.38. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The stock has a market capitalization of $9.38 billion, a price-to-earnings ratio of 56.81, a PEG ratio of 2.72 and a beta of 1.37.

Institutional Trading of Globant

A number of hedge funds have recently added to or reduced their stakes in GLOB. Victory Capital Management Inc. raised its holdings in Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after purchasing an additional 1,431,112 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $78,851,000 after buying an additional 161,512 shares during the period. Sei Investments Co. lifted its position in shares of Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 valued at $469,316,000 after buying an additional 153,385 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake 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 valued at $47,450,000 after acquiring an additional 126,030 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

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.