Globant (NYSE:GLOB) Stock Price Down 2.9%

Globant S.A. (NYSE:GLOB)’s share price was down 2.9% on Friday . The company traded as low as $166.48 and last traded at $166.57. Approximately 62,160 shares changed hands during trading, a decline of 87% from the average daily volume of 470,063 shares. The stock had previously closed at $171.57.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GLOB shares. KeyCorp cut their price target on shares of Globant from $272.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Mizuho lowered their price target on shares of Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research report on Wednesday. UBS Group upped their price target on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 26th. HSBC dropped their price target on shares of Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. Finally, TD Cowen decreased their price target on shares of Globant from $235.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.50.

Globant Stock Down 2.1 %

The stock has a 50-day moving average of $188.61 and a 200 day moving average of $211.49. The stock has a market cap of $7.24 billion, a PE ratio of 45.07, a P/E/G ratio of 1.34 and a beta of 1.35.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CI Investments Inc. lifted its position in Globant by 122.0% in the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares during the period. Accent Capital Management LLC purchased a new position in Globant in the fourth quarter valued at about $29,000. BOKF NA increased its stake in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares in the last quarter. RiverPark Advisors LLC purchased a new position in shares of Globant during the 1st quarter worth approximately $54,000. Finally, Principal Securities Inc. purchased a new position in shares of Globant during the 4th quarter worth approximately $56,000. 91.60% of the stock is owned by institutional investors and hedge funds.

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.