Globant (NYSE:GLOB) Trading Up 6% – Still a Buy?

Shares of Globant S.A. (NYSE:GLOB) were up 6% during mid-day trading on Thursday . The company traded as high as $229.81 and last traded at $229.09. Approximately 33,013 shares traded hands during trading, a decline of 93% from the average daily volume of 479,740 shares. The stock had previously closed at $216.09.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several recent analyst reports. TD Cowen lifted their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Scotiabank upped their target price on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Needham & Company LLC upped their target price on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Citigroup boosted their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Stock Performance

The stock has a market cap of $9.54 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. The company’s 50-day moving average price is $221.29 and its 200 day moving average price is $199.50.

Hedge Funds Weigh In On Globant

Hedge funds have recently made changes to their positions in the stock. Quarry LP increased its stake in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the period. Ridgewood Investments LLC acquired a new position in Globant during the 2nd quarter worth $31,000. ORG Partners LLC increased its holdings in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Globant in the 3rd quarter valued at about $40,000. Finally, American National Bank & Trust grew its position in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

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.