UBS Group Cuts Globant (NYSE:GLOB) Price Target to $217.00

Globant (NYSE:GLOB) had its target price trimmed by UBS Group from $222.00 to $217.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the information technology services provider’s stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Canaccord Genuity Group restated a “hold” rating and issued a $205.00 price target on shares of Globant in a research note on Monday, November 18th. Susquehanna assumed coverage on Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $265.00 target price on shares of Globant in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average price target of $230.28.

Globant Stock Down 0.6 %

NYSE GLOB opened at $213.72 on Monday. Globant has a 12-month low of $151.68 and a 12-month high of $245.81. The firm’s 50 day moving average is $216.87 and its 200-day moving average is $208.89. The company has a market capitalization of $9.21 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 2.33 and a beta of 1.39.

Institutional Trading of Globant

Institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its position in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after acquiring an additional 88,829 shares during the period. JPMorgan Chase & Co. raised its stake in Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after purchasing an additional 153,385 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Globant by 1,817.5% in the 3rd 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. Jennison Associates LLC grew its position in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after purchasing an additional 4,970 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after purchasing an additional 126,333 shares during the period. 91.60% of the stock is currently owned by institutional investors.

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.