Globant (NYSE:GLOB) Price Target Raised to $255.00 at Jefferies Financial Group

Globant (NYSE:GLOB) had its target price boosted by research analysts at Jefferies Financial Group from $240.00 to $255.00 in a research report 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 objective would indicate a potential upside of 20.22% from the company’s current price.

A number of other equities research analysts have also issued reports on GLOB. Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Citigroup upped their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 price target on shares of Globant in a report on Monday, November 18th. Needham & Company LLC upped their price objective on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. 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 stock. According to data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average price target of $231.28.

Globant Stock Performance

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

Institutional Investors Weigh In On Globant

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its position in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares during the period. ORG Partners LLC lifted its position in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Globant in the 3rd quarter valued at approximately $40,000. American National Bank & Trust increased its holdings in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the period. Finally, Signaturefd LLC increased its holdings in shares of Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.