Globant S.A. (NYSE:GLOB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Globant S.A. (NYSE:GLOB) has received an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $218.38.

A number of equities research analysts have weighed in on GLOB shares. Citigroup boosted their target price on shares of Globant from $185.00 to $215.00 in a research note on Tuesday, July 25th. Scotiabank initiated coverage on shares of Globant in a report on Wednesday, August 23rd. They set a “sector outperform” rating and a $210.00 price objective for the company. TD Cowen decreased their target price on shares of Globant from $207.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. StockNews.com started coverage on shares of Globant in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Bank of America initiated coverage on shares of Globant in a research report on Wednesday, October 11th. They issued a “neutral” rating and a $202.00 price objective on the stock.

Hedge Funds Weigh In On Globant

Several large investors have recently bought and sold shares of GLOB. Perpetual Ltd bought a new position in Globant during the first quarter valued at approximately $222,362,000. Wasatch Advisors LP raised its position in shares of Globant by 18.1% in the second quarter. Wasatch Advisors LP now owns 2,994,433 shares of the information technology services provider’s stock valued at $538,159,000 after purchasing an additional 459,850 shares during the period. Norges Bank bought a new position in shares of Globant in the fourth quarter valued at approximately $71,313,000. Price T Rowe Associates Inc. MD increased its position in Globant by 15.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,086,471 shares of the information technology services provider’s stock worth $519,021,000 after acquiring an additional 416,119 shares during the period. Finally, Capital World Investors increased its position in Globant by 224.8% during the second quarter. Capital World Investors now owns 594,316 shares of the information technology services provider’s stock worth $106,810,000 after acquiring an additional 411,316 shares during the period. Institutional investors and hedge funds own 91.49% of the company’s stock.

Globant Price Performance

NYSE GLOB opened at $209.46 on Tuesday. The stock has a market capitalization of $8.85 billion, a PE ratio of 60.89 and a beta of 1.31. Globant has a 1 year low of $135.40 and a 1 year high of $211.93. The business’s 50-day moving average is $189.64 and its 200 day moving average is $182.11.

Globant Company Profile

Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.