Globant (NYSE:GLOB) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Globant (NYSE:GLOB) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Other research analysts have also issued reports about the company. Wedbush lowered their target price on Globant from $250.00 to $200.00 and set an outperform rating for the company in a research report on Friday, May 17th. Scotiabank lowered their price target on shares of Globant from $200.00 to $190.00 and set a sector perform rating for the company in a report on Friday, May 17th. TD Cowen reduced their price objective 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. 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 research report on Friday, May 17th. Finally, UBS Group lifted their price objective on Globant from $230.00 to $240.00 and gave the stock a neutral rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $218.50.

Globant Price Performance

Shares of NYSE GLOB opened at $166.61 on Tuesday. The company has a 50 day simple moving average of $187.61 and a 200 day simple moving average of $211.37. The firm has a market cap of $7.18 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35. Globant has a 1 year low of $160.12 and a 1 year high of $251.50.

Institutional Trading of Globant

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. Accent Capital Management LLC purchased a new position in Globant in the fourth quarter worth $29,000. CI Investments Inc. raised its stake in shares of Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 72 shares during the period. BOKF NA boosted its holdings in shares of Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the last quarter. Principal Securities Inc. bought a new position in Globant during the fourth quarter valued at about $56,000. Finally, RiverPark Advisors LLC purchased a new stake in Globant during the first quarter worth about $54,000. Hedge funds and other 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.