Mizuho Trims Globant (NYSE:GLOB) Target Price to $252.00

Globant (NYSE:GLOB) had its price objective reduced by Mizuho from $279.00 to $252.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

GLOB has been the subject of a number of other research reports. StockNews.com raised Globant from a sell rating to a hold rating in a report on Tuesday. Scotiabank reduced their target price on Globant from $200.00 to $190.00 and set a sector perform rating for the company in a report on Friday, May 17th. Guggenheim initiated coverage on Globant in a report on Tuesday, March 19th. They set a buy rating and a $250.00 target price for the company. Canaccord Genuity Group dropped their price target on Globant from $230.00 to $175.00 and set a hold rating for the company in a research report on Friday, May 17th. Finally, Citigroup dropped their price target on Globant from $235.00 to $215.00 and set a buy rating for the company in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $218.50.

Globant Stock Down 2.9 %

GLOB stock opened at $166.61 on Wednesday. The firm has a market capitalization of $7.18 billion, a PE ratio of 43.73, a PEG ratio of 1.34 and a beta of 1.35. Globant has a twelve month low of $160.12 and a twelve month high of $251.50. The stock has a 50-day simple moving average of $187.61 and a two-hundred day simple moving average of $211.37.

Institutional Trading of Globant

Hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC bought a new stake in Globant in the third quarter valued at approximately $207,000. Principal Financial Group Inc. lifted its position in Globant by 334.8% in the third quarter. Principal Financial Group Inc. now owns 115,248 shares of the information technology services provider’s stock valued at $22,802,000 after purchasing an additional 88,742 shares during the last quarter. California Public Employees Retirement System lifted its position in Globant by 2.4% in the third quarter. California Public Employees Retirement System now owns 77,031 shares of the information technology services provider’s stock valued at $15,241,000 after purchasing an additional 1,840 shares during the last quarter. NBC Securities Inc. bought a new stake in Globant in the third quarter valued at approximately $984,000. Finally, Victory Capital Management Inc. lifted its position in Globant by 45.4% in the third quarter. Victory Capital Management Inc. now owns 149,578 shares of the information technology services provider’s stock valued at $29,594,000 after purchasing an additional 46,696 shares during the last quarter. 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.