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 research report report published on Sunday.

A number of other brokerages have also commented on GLOB. KeyCorp increased their price target on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Piper Sandler cut their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Citigroup upped their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.06.

Globant Stock Up 2.9 %

Shares of GLOB stock opened at $229.25 on Friday. The company’s fifty day simple moving average is $210.75 and its two-hundred day simple moving average is $192.16. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a market cap of $9.88 billion, a P/E ratio of 59.86, a PEG ratio of 2.72 and a beta of 1.39.

Hedge Funds Weigh In On Globant

A number of large investors have recently bought and sold shares of GLOB. Victory Capital Management Inc. boosted its stake in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Globant in the 2nd quarter valued at about $99,396,000. Dimensional Fund Advisors LP grew its stake in Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after acquiring an additional 161,512 shares in the last quarter. Sei Investments Co. increased its position 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 worth $91,432,000 after acquiring an additional 155,112 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake 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 valued at $47,450,000 after acquiring an additional 126,030 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.