Globant (NYSE:GLOB) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Globant (NYSE:GLOB) from a sell rating to a hold rating in a report issued on Sunday.

Several other analysts have also recently weighed in on the company. Needham & Company LLC lifted their price objective on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Piper Sandler dropped their price target on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Scotiabank increased their price objective on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock. Finally, UBS Group reiterated a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus price target of $229.06.

Globant Trading Up 2.9 %

NYSE:GLOB opened at $229.25 on Friday. The company has a 50-day moving average price of $210.75 and a 200-day moving average price of $192.16. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 59.86, a P/E/G ratio of 2.72 and a beta of 1.39. Globant has a 12 month low of $151.68 and a 12 month high of $251.50.

Institutional Trading of Globant

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after buying an additional 8,267 shares in the last quarter. PEAK6 Investments LLC bought a new stake in shares of Globant in the first quarter worth approximately $858,000. BOKF NA raised its holdings in shares of Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. Janus Henderson Group PLC lifted its position in Globant by 17.6% during the first quarter. Janus Henderson Group PLC now owns 16,906 shares of the information technology services provider’s stock valued at $3,414,000 after purchasing an additional 2,529 shares during the period. Finally, Vancity Investment Management Ltd boosted its holdings in Globant by 11.7% in the first quarter. Vancity Investment Management Ltd now owns 4,598 shares of the information technology services provider’s stock worth $928,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

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.