Globant (NYSE:GLOB) PT Lowered to $225.00 at Citigroup

Globant (NYSE:GLOBGet Rating) had its price target cut by Citigroup from $270.00 to $225.00 in a research note issued to investors on Monday, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.

GLOB has been the topic of a number of other research reports. Cowen cut their target price on Globant from $210.00 to $207.00 and set an outperform rating on the stock in a research report on Friday, November 18th. The Goldman Sachs Group cut their target price on Globant from $290.00 to $250.00 and set a buy rating on the stock in a research report on Thursday, September 29th. KeyCorp cut their target price on Globant from $291.00 to $232.00 and set an overweight rating on the stock in a research report on Friday, November 18th. Cowen cut their price objective on Globant from $210.00 to $207.00 and set an outperform rating on the stock in a research report on Friday, November 18th. Finally, Piper Sandler cut their price objective on Globant from $249.00 to $219.00 and set an overweight rating on the stock in a research report on Friday, October 21st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $235.00.

Globant Stock Up 1.6 %

Shares of NYSE GLOB opened at $179.69 on Monday. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 55.29 and a beta of 1.41. Globant has a 52-week low of $155.01 and a 52-week high of $324.29. The business’s 50 day moving average is $183.18 and its two-hundred day moving average is $193.18.

Institutional Trading of Globant

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Globant by 77.1% during the second quarter. JPMorgan Chase & Co. now owns 3,377,320 shares of the information technology services provider’s stock worth $587,653,000 after acquiring an additional 1,469,846 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Globant by 150.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 2,670,352 shares of the information technology services provider’s stock worth $499,571,000 after purchasing an additional 1,602,875 shares in the last quarter. Sands Capital Management LLC grew its stake in shares of Globant by 11.7% during the second quarter. Sands Capital Management LLC now owns 1,497,727 shares of the information technology services provider’s stock worth $260,604,000 after purchasing an additional 156,312 shares in the last quarter. Riverbridge Partners LLC grew its stake in shares of Globant by 9.1% during the third quarter. Riverbridge Partners LLC now owns 1,418,362 shares of the information technology services provider’s stock worth $265,347,000 after purchasing an additional 118,367 shares in the last quarter. Finally, Pendal Group Ltd acquired a new position in shares of Globant during the third quarter worth $256,020,000. Hedge funds and other institutional investors own 88.96% of the company’s stock.

About Globant

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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Analyst Recommendations for Globant (NYSE:GLOB)

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