Globant (NYSE:GLOB) Earns Hold Rating from Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of Globant (NYSE:GLOB) in a research note published on Monday,Benzinga reports. Canaccord Genuity Group currently has a $205.00 price objective on the information technology services provider’s stock.

Several other analysts also recently commented on GLOB. Citigroup raised their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft started coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target on the stock. Needham & Company LLC lifted their price target on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday. UBS Group reissued a “neutral” rating and issued a $235.00 price target (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Finally, StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

Globant Trading Up 0.4 %

Shares of Globant stock opened at $204.09 on Monday. The company has a market capitalization of $8.79 billion, a PE ratio of 53.29, a PEG ratio of 2.49 and a beta of 1.39. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The stock’s fifty day simple moving average is $208.98 and its 200 day simple moving average is $191.19.

Hedge Funds Weigh In On Globant

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp grew its holdings in Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the period. Barclays PLC grew its holdings in Globant by 132.9% during the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock worth $4,467,000 after purchasing an additional 12,862 shares during the period. Public Employees Retirement System of Ohio bought a new position in Globant during the third quarter worth about $12,637,000. Pier Capital LLC grew its holdings in Globant by 96.1% during the third quarter. Pier Capital LLC now owns 45,550 shares of the information technology services provider’s stock worth $9,025,000 after purchasing an additional 22,318 shares during the period. Finally, National Bank of Canada FI grew its holdings in Globant by 3.3% during the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after purchasing an additional 122 shares during the period. Institutional investors own 91.60% of the company’s stock.

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.