Piper Sandler Lowers Globant (NYSE:GLOB) Price Target to $237.00

Globant (NYSE:GLOB) had its price target reduced by Piper Sandler from $240.00 to $237.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other equities analysts also recently commented on GLOB. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price on the stock. UBS Group restated a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. TD Cowen lifted their price objective on shares of Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. KeyCorp boosted their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Finally, Canaccord Genuity Group increased their price target on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $228.50.

Globant Trading Up 0.4 %

GLOB opened at $204.09 on Friday. The stock’s fifty day simple moving average is $208.98 and its 200 day simple moving average is $191.19. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The stock has a market cap of $8.79 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Seven Eight Capital LP acquired a new stake in Globant in the first quarter valued at approximately $2,138,000. Vanguard Group Inc. lifted its stake in shares of Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after acquiring an additional 8,267 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Globant by 1,079.8% during the 1st quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after acquiring an additional 18,433 shares in the last quarter. Jupiter Asset Management Ltd. grew its position in Globant by 14.6% during the 1st quarter. Jupiter Asset Management Ltd. now owns 42,584 shares of the information technology services provider’s stock worth $8,598,000 after acquiring an additional 5,441 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Globant by 97.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock worth $27,548,000 after purchasing an additional 76,256 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

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.