Globant (NYSE:GLOB) Given New $217.00 Price Target at Piper Sandler

Globant (NYSE:GLOB) had its price target boosted by Piper Sandler from $212.00 to $217.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the information technology services provider’s stock.

GLOB has been the topic of several other research reports. KeyCorp reduced their price target on shares of Globant from $230.00 to $218.00 and set an overweight rating on the stock in a research report on Friday. Citigroup raised their target price on shares of Globant from $185.00 to $215.00 in a report on Tuesday, July 25th. StockNews.com started coverage on shares of Globant in a report on Thursday, October 5th. They issued a hold rating on the stock. Scotiabank started coverage on shares of Globant in a research note on Wednesday, August 23rd. They issued a sector outperform rating and a $210.00 price target on the stock. Finally, Needham & Company LLC increased their price target on shares of Globant from $205.00 to $215.00 and gave the company a buy rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Globant currently has an average rating of Moderate Buy and a consensus price target of $218.38.

Globant Stock Performance

Shares of GLOB opened at $209.46 on Friday. 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 company’s 50-day simple moving average is $189.64 and its 200-day simple moving average is $182.11.

Institutional Investors Weigh In On Globant

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Alliance raised its stake in shares of Globant by 3.5% during the 3rd quarter. Wealth Alliance now owns 1,763 shares of the information technology services provider’s stock worth $349,000 after buying an additional 59 shares during the last quarter. Janney Capital Management LLC raised its stake in shares of Globant by 2.5% during the 3rd quarter. Janney Capital Management LLC now owns 2,462 shares of the information technology services provider’s stock worth $487,000 after buying an additional 61 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Globant by 5.2% during the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after buying an additional 63 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Globant by 1.9% during the 3rd quarter. National Bank of Canada FI now owns 3,447 shares of the information technology services provider’s stock worth $693,000 after buying an additional 65 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Globant by 2.7% during the 2nd quarter. MetLife Investment Management LLC now owns 2,532 shares of the information technology services provider’s stock worth $455,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 91.49% of the company’s stock.

About Globant

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.