Globant (NYSE:GLOB) Coverage Initiated by Analysts at Susquehanna

Analysts at Susquehanna started coverage on shares of Globant (NYSE:GLOB) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set a “positive” rating and a $255.00 price target on the information technology services provider’s stock. Susquehanna’s price target suggests a potential upside of 18.01% from the company’s current price.

A number of other analysts also recently weighed in on GLOB. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. Jefferies Financial Group lifted their price target on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. TD Cowen upped their price objective on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, UBS Group reiterated a “neutral” rating and issued a $235.00 target price (up previously from $225.00) on shares of Globant in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.44.

Globant Stock Down 4.8 %

GLOB stock opened at $216.09 on Tuesday. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The business has a 50-day simple moving average of $220.73 and a 200 day simple moving average of $198.87. The company has a market cap of $9.31 billion, a PE ratio of 56.42, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37.

Institutional Investors Weigh In On Globant

Large investors have recently modified their holdings of the company. Quarry LP increased its holdings in Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant in the second quarter valued at about $31,000. ORG Partners LLC lifted its position in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Globant during the third quarter worth $40,000. Finally, American National Bank & Trust boosted its holdings in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.