Globant (NYSE:GLOB) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Globant (NYSE:GLOB) in a research report report published on Friday,Benzinga reports. The brokerage currently has a $265.00 target price on the information technology services provider’s stock.

GLOB has been the topic of a number of other research reports. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 price target on shares of Globant in a research note on Monday, November 18th. Susquehanna assumed coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price for the company. Finally, TD Cowen upped their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.28.

Globant Trading Down 2.1 %

NYSE:GLOB opened at $203.68 on Friday. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The stock has a fifty day moving average price of $218.29 and a 200 day moving average price of $207.59. The firm has a market cap of $8.78 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 2.26 and a beta of 1.38.

Institutional Trading of Globant

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after purchasing an additional 1,431,112 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after acquiring an additional 161,512 shares during the period. JPMorgan Chase & Co. grew its position in Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after acquiring an additional 153,385 shares in the last quarter. abrdn plc lifted its position 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Globant by 89.9% during the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after purchasing an additional 126,030 shares in the last quarter. Hedge funds and other 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.