Scotiabank Raises Globant (NYSE:GLOB) Price Target to $220.00

Globant (NYSE:GLOB) had its price objective hoisted by Scotiabank from $210.00 to $220.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a sector perform rating on the information technology services provider’s stock.

A number of other analysts also recently issued reports on GLOB. StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a research report on Saturday, November 16th. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Needham & Company LLC lifted their target price on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group reiterated a “hold” rating and issued a $205.00 price target on shares of Globant in a report on Monday. Finally, Citigroup raised their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $229.06.

Globant Trading Up 3.1 %

GLOB stock opened at $222.37 on Tuesday. The company has a market cap of $9.58 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 2.55 and a beta of 1.39. The stock has a 50-day moving average price of $210.11 and a two-hundred day moving average price of $191.90. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Institutional Trading of Globant

A number of institutional investors and hedge funds have recently modified their holdings of GLOB. Vanguard Group Inc. grew its position in shares of Globant by 7.9% during 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 buying an additional 8,267 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Globant during the 1st quarter worth approximately $577,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Globant in the 1st quarter worth approximately $196,000. PEAK6 Investments LLC bought a new stake in shares of Globant in the 1st quarter worth approximately $858,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd boosted its position in Globant by 5.7% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 11,960 shares of the information technology services provider’s stock valued at $2,415,000 after purchasing an additional 650 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

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.