Globant (NYSE:GLOB) Stock Rating Upgraded by StockNews.com

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

GLOB has been the topic of several other reports. Jefferies Financial Group increased their target price on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective on the stock. UBS Group reissued a “neutral” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Needham & Company LLC increased their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank boosted their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $229.06.

Globant Trading Down 0.6 %

Shares of GLOB stock opened at $229.55 on Friday. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 59.93, a P/E/G ratio of 2.85 and a beta of 1.39. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a fifty day simple moving average of $212.97 and a two-hundred day simple moving average of $193.24.

Institutional Investors Weigh In On Globant

A number of large investors have recently made changes to their positions in the stock. Quarry LP raised 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 worth $30,000 after acquiring an additional 143 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant in the second quarter valued at about $31,000. BOKF NA increased its holdings in shares of Globant by 15,800.0% in 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 period. ORG Partners LLC raised its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Globant during the third quarter worth about $40,000. 91.60% of the stock is 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.