Globant S.A. (NYSE:GLOB) Receives Consensus Rating of “Moderate Buy” from Brokerages

Globant S.A. (NYSE:GLOB) has been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $231.28.

A number of brokerages recently issued reports on GLOB. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Piper Sandler lowered their price objective on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Needham & Company LLC increased their target price on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank lifted their price target on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company.

Hedge Funds Weigh In On Globant

Several institutional investors and hedge funds have recently modified their holdings of GLOB. Quarry LP grew its stake in 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 buying an additional 143 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Globant by 65.5% during the third 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 bought a new position in shares of Globant during the third quarter worth approximately $40,000. American National Bank & Trust lifted its holdings in Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Globant by 46.0% in the 3rd 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. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Price Performance

GLOB opened at $207.95 on Friday. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 54.29, a P/E/G ratio of 2.30 and a beta of 1.38. The business’s 50-day moving average price is $218.70 and its two-hundred day moving average price is $207.59. Globant has a 1 year low of $151.68 and a 1 year high of $251.50.

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.