Globant (NYSE:GLOB) Price Target Lowered to $220.00 at TD Cowen

Globant (NYSE:GLOBFree Report) had its price objective trimmed by TD Cowen from $235.00 to $220.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Several other analysts also recently commented on GLOB. Scotiabank dropped their price objective on shares of Globant from $200.00 to $190.00 and set a sector perform rating on the stock in a report on Friday. Needham & Company LLC lowered their price target on shares of Globant from $275.00 to $200.00 and set a buy rating on the stock in a report on Friday. StockNews.com downgraded shares of Globant from a hold rating to a sell rating in a report on Monday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of Globant from $273.00 to $257.00 and set an overweight rating on the stock in a report on Thursday, May 2nd. Finally, Guggenheim started coverage on shares of Globant in a report on Tuesday, March 19th. They set a buy rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $225.00.

View Our Latest Stock Analysis on GLOB

Globant Price Performance

GLOB stock opened at $171.53 on Friday. The firm’s fifty day simple moving average is $191.23 and its 200-day simple moving average is $212.13. The company has a market capitalization of $7.39 billion, a P/E ratio of 45.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. Globant has a 12 month low of $160.12 and a 12 month high of $251.50.

Institutional Investors Weigh In On Globant

A number of hedge funds have recently modified their holdings of GLOB. Jennison Associates LLC raised its position in shares of Globant by 289.5% in the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock valued at $228,659,000 after buying an additional 714,162 shares during the last quarter. Norges Bank acquired a new stake in shares of Globant in the fourth quarter valued at about $114,922,000. Invesco Ltd. raised its position in shares of Globant by 155.2% in the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock valued at $120,898,000 after buying an additional 371,628 shares during the last quarter. Wasatch Advisors LP increased its position in Globant by 6.8% during the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after purchasing an additional 213,049 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Globant by 36.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock worth $167,797,000 after purchasing an additional 189,204 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Company Profile

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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.

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Analyst Recommendations for Globant (NYSE:GLOB)

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