Wedbush Reaffirms “Outperform” Rating for Globant (NYSE:GLOB)

Wedbush restated their outperform rating on shares of Globant (NYSE:GLOB) in a report published on Friday, Benzinga reports. The firm currently has a $250.00 price objective on the information technology services provider’s stock.

A number of other analysts have also weighed in on GLOB. Citigroup increased their price objective on shares of Globant from $185.00 to $215.00 in a research report on Tuesday, July 25th. Scotiabank assumed coverage on Globant in a research note on Wednesday, August 23rd. They set a sector outperform rating and a $210.00 price target for the company. KeyCorp cut their price objective on Globant from $230.00 to $218.00 and set an overweight rating on the stock in a research report on Friday. Bank of America assumed coverage on Globant in a research report on Wednesday, October 11th. They set a neutral rating and a $202.00 target price for the company. Finally, Needham & Company LLC upped their price target on shares of 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $218.38.

Globant Trading Up 2.3 %

Shares of GLOB opened at $209.46 on Friday. The business’s 50 day moving average is $189.64 and its 200 day moving average is $182.11. Globant has a 12-month low of $135.40 and a 12-month high of $211.93. The company has a market capitalization of $8.85 billion, a PE ratio of 60.89 and a beta of 1.31.

Hedge Funds Weigh In On Globant

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. CI Investments Inc. boosted its position in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 72 shares during the period. Nisa Investment Advisors LLC boosted its stake in Globant by 233.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 140 shares during the period. Clearstead Advisors LLC grew its position in Globant by 1,566.7% in the 1st quarter. Clearstead Advisors LLC now owns 250 shares of the information technology services provider’s stock worth $41,000 after purchasing an additional 235 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Globant during the first quarter valued at approximately $72,000. Finally, Cornerstone Planning Group LLC bought a new position in Globant in the 2nd quarter worth approximately $50,000. 91.49% of the stock is currently owned by hedge funds and other institutional investors.

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.