Globant (NYSE:GLOB) Given New $215.00 Price Target at Needham & Company LLC

Globant (NYSE:GLOB) had its price objective increased by Needham & Company LLC from $205.00 to $215.00 in a report released on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the information technology services provider’s stock.

Several other research analysts also recently commented on GLOB. TD Cowen dropped their price target on Globant from $207.00 to $205.00 and set an outperform rating on the stock in a research report on Friday, August 18th. Piper Sandler dropped their price target on Globant from $230.00 to $212.00 and set an overweight rating on the stock in a research report on Friday, November 10th. JPMorgan Chase & Co. lifted their price target on Globant from $194.00 to $236.00 and gave the stock an overweight rating in a research report on Tuesday, August 22nd. Bank of America assumed coverage on Globant in a research report on Wednesday, October 11th. They issued a neutral rating and a $202.00 price target on the stock. Finally, Citigroup lifted their price target on Globant from $185.00 to $215.00 in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant presently has an average rating of Moderate Buy and a consensus target price of $218.38.

Globant Stock Performance

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

Institutional Trading of Globant

Several institutional investors have recently modified their holdings of the company. CI Investments Inc. boosted its stake in Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 boosted its stake in shares of Globant by 1,566.7% in the 1st quarter. Clearstead Advisors LLC now owns 250 shares of the information technology services provider’s stock valued at $41,000 after purchasing an additional 235 shares in the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of Globant in the 2nd quarter worth about $50,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Globant during the 1st quarter worth about $55,000. 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.