Globant (NYSE:GLOB) Price Target Raised to $220.00

Globant (NYSE:GLOB) had its price objective upped by investment analysts at Scotiabank from $210.00 to $220.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the information technology services provider’s stock. Scotiabank’s price target suggests a potential upside of 6.96% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Citigroup increased their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler dropped their price objective on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen increased their target price on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, KeyCorp increased their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.06.

Globant Stock Up 0.8 %

NYSE GLOB traded up $1.59 during trading on Tuesday, hitting $205.68. The stock had a trading volume of 46,507 shares, compared to its average volume of 483,586. The company has a market capitalization of $8.86 billion, a PE ratio of 53.70, a PEG ratio of 2.49 and a beta of 1.39. The firm has a 50 day moving average price of $209.12 and a 200 day moving average price of $191.36. Globant has a twelve month low of $151.68 and a twelve month high of $251.50.

Institutional Trading of Globant

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after buying an additional 1,431,112 shares during the period. Manning & Napier Advisors LLC purchased a new position in Globant in the 2nd quarter worth approximately $99,396,000. Dimensional Fund Advisors LP grew its position in Globant by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after acquiring an additional 161,512 shares in the last quarter. Sei Investments Co. raised its stake in shares of Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Globant by 89.9% during the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after purchasing an additional 126,030 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.