KeyCorp Lowers Globant (NYSE:GLOB) Price Target to $218.00

Globant (NYSE:GLOB) had its price objective cut by KeyCorp from $230.00 to $218.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the information technology services provider’s stock.

Several other equities analysts have also recently commented on the company. Citigroup increased their target price on Globant from $185.00 to $215.00 in a research note on Tuesday, July 25th. StockNews.com started coverage on Globant in a report on Thursday, October 5th. They set a hold rating on the stock. Scotiabank initiated coverage on Globant in a report on Wednesday, August 23rd. They set a sector outperform rating and a $210.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Globant from $194.00 to $236.00 and gave the company an overweight rating in a research note on Tuesday, August 22nd. Finally, Needham & Company LLC raised their price objective on Globant from $205.00 to $215.00 and gave the stock a buy rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Globant currently has a consensus rating of Moderate Buy and an average target price of $218.38.

Globant Trading Up 2.3 %

Shares of GLOB stock opened at $209.46 on Friday. Globant has a twelve month low of $135.40 and a twelve month high of $211.93. The firm has a 50-day moving average price of $189.64 and a 200 day moving average price of $182.11. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 60.89 and a beta of 1.31.

Hedge Funds Weigh In On Globant

Institutional investors and hedge funds have recently bought and sold shares of the business. CI Investments Inc. boosted its stake in Globant by 122.0% in the third 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Globant by 233.3% during the first quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 140 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Globant by 1,566.7% during the first quarter. Clearstead Advisors LLC now owns 250 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 235 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of Globant during the first quarter valued at $72,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Globant during the second quarter valued at $50,000. Institutional investors and hedge funds own 91.49% of the company’s stock.

Globant Company Profile

Globant SA operates as a technology services company worldwide. The company 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.