Globant (NYSE:GLOB) Price Target Raised to $255.00

Globant (NYSE:GLOB) had its price objective hoisted by Jefferies Financial Group from $240.00 to $255.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the information technology services provider’s stock.

Other equities analysts have also issued reports about the stock. Scotiabank lifted their target price on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Susquehanna assumed coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Citigroup raised their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.28.

Globant Stock Performance

GLOB stock opened at $207.95 on Tuesday. The company has a market capitalization of $8.96 billion, a price-to-earnings ratio of 54.29, a price-to-earnings-growth ratio of 2.30 and a beta of 1.38. The business’s 50 day moving average price is $218.70 and its two-hundred day moving average price is $207.59. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

Hedge Funds Weigh In On Globant

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Globant by 1,817.5% in the third 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 buying an additional 1,431,112 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after acquiring an additional 161,512 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Globant by 6.9% during 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 acquiring an additional 153,385 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Globant by 89.9% in the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after purchasing an additional 126,030 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Globant by 84.8% during the second quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider’s stock worth $46,574,000 after purchasing an additional 119,860 shares during 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.