Globant (NYSE:GLOB) Coverage Initiated at Susquehanna

Analysts at Susquehanna initiated coverage on shares of Globant (NYSE:GLOB) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “positive” rating and a $255.00 price target on the information technology services provider’s stock. Susquehanna’s target price points to a potential upside of 18.01% from the stock’s previous close.

A number of other equities research analysts have also commented on GLOB. Scotiabank raised their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Canaccord Genuity Group reissued a “hold” rating and issued a $205.00 price target on shares of Globant in a research note on Monday, November 18th. UBS Group reaffirmed a “neutral” rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Citigroup lifted their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group boosted their target price on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.44.

Globant Stock Performance

NYSE GLOB opened at $216.09 on Tuesday. Globant has a 52-week low of $151.68 and a 52-week high of $251.50. The business has a 50 day simple moving average of $220.73 and a 200 day simple moving average of $198.87. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 56.42, a PEG ratio of 2.72 and a beta of 1.37.

Hedge Funds Weigh In On Globant

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP grew its position in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares during the last quarter. Victory Capital Management Inc. boosted its position 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 acquiring an additional 1,431,112 shares during the period. Sei Investments Co. grew its stake in shares of Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after acquiring an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Globant by 57.5% in the second 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 in the last quarter. Finally, Clearbridge Investments LLC increased its position in Globant by 28.4% during the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after acquiring an additional 75,192 shares during the period. Institutional investors own 91.60% of the company’s stock.

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.