Globant (NYSE:GLOB) Given New $220.00 Price Target at Scotiabank

Globant (NYSE:GLOB) had its price objective lifted by Scotiabank from $210.00 to $220.00 in a report released on Tuesday morning,Benzinga reports. They currently have a sector perform rating on the information technology services provider’s stock.

Several other equities analysts also recently issued reports on the company. Needham & Company LLC boosted their price objective on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Citigroup boosted their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. UBS Group reissued a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Piper Sandler dropped their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $229.06.

Globant Trading Up 2.2 %

Shares of NYSE GLOB opened at $208.59 on Tuesday. The stock has a 50 day simple moving average of $209.12 and a 200-day simple moving average of $191.36. The company has a market cap of $8.99 billion, a PE ratio of 53.70, a P/E/G ratio of 2.49 and a beta of 1.39. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Hedge Funds Weigh In On Globant

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Globant by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after acquiring an additional 18,433 shares in the last quarter. Creative Planning grew its holdings in shares of Globant by 20.5% during the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after acquiring an additional 351 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Globant by 97.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock valued at $27,548,000 after acquiring an additional 76,256 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Globant during the 2nd quarter valued at $1,319,000. 91.60% of the stock is currently 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.