Globant (NYSE:GLOB) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Globant (NYSE:GLOB) in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a $265.00 price target on the information technology services provider’s stock.

GLOB has been the topic of a number of other reports. Susquehanna began coverage on shares of Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target on the stock. JPMorgan Chase & Co. upped their target price on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup upped their price target 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. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $231.28.

Globant Trading Down 2.1 %

Shares of NYSE GLOB opened at $203.68 on Friday. The business has a 50 day simple moving average of $218.29 and a 200-day simple moving average of $207.59. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 53.18, a price-to-earnings-growth ratio of 2.26 and a beta of 1.38.

Institutional Trading of Globant

A number of large investors have recently added to or reduced their stakes in GLOB. Wasatch Advisors LP lifted its holdings in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. grew its position in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares in the last quarter. Victory Capital Management Inc. lifted its position 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 buying an additional 1,431,112 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after buying an additional 4,970 shares during the period. Finally, abrdn plc raised its holdings in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after acquiring an additional 126,333 shares in the last quarter. 91.60% of the stock is currently owned by 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.