UBS Group Issues Pessimistic Forecast for Globant (NYSE:GLOB) Stock Price

Globant (NYSE:GLOB) had its price target dropped by UBS Group from $222.00 to $217.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information technology services provider’s stock. UBS Group’s target price points to a potential upside of 2.07% from the stock’s current price.

Several other analysts have also commented on GLOB. Canaccord Genuity Group restated a “hold” rating and set a $205.00 price target on shares of Globant in a research report on Monday, November 18th. Susquehanna began coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Citigroup raised their price target 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.28.

Globant Stock Performance

Shares of Globant stock traded down $0.72 during trading on Monday, hitting $212.60. 471,960 shares of the company’s stock were exchanged, compared to its average volume of 430,167. The business has a 50-day simple moving average of $217.57 and a 200-day simple moving average of $208.64. Globant has a 52-week low of $151.68 and a 52-week high of $248.94. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 55.62, a PEG ratio of 2.33 and a beta of 1.39.

Hedge Funds Weigh In On Globant

Institutional investors have recently bought and sold shares of the company. Creative Planning raised its stake in Globant by 20.5% during the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after purchasing an additional 351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Globant during the third quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globant by 18.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock worth $10,663,000 after purchasing an additional 8,427 shares during the period. Principal Financial Group Inc. raised its stake in Globant by 121.3% during the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after purchasing an additional 16,639 shares during the period. Finally, Marshall Wace LLP purchased a new position in Globant during the second quarter worth about $1,319,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

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.