Globant (NYSE:GLOB) Trading Up 6% – What’s Next?

Globant S.A. (NYSE:GLOB)’s share price was up 6% during trading on Thursday . The company traded as high as $229.81 and last traded at $229.09. Approximately 33,013 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 479,740 shares. The stock had previously closed at $216.09.

Analysts Set New Price Targets

Several research firms recently issued reports on GLOB. Jefferies Financial Group lifted their price target on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Piper Sandler cut their price objective on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Scotiabank upped their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Finally, TD Cowen upped their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Globant has an average rating of “Moderate Buy” and an average price target of $230.44.

Globant Stock Performance

The business’s fifty day moving average price is $221.29 and its 200-day moving average price is $199.50. The stock has a market cap of $9.54 billion, a PE ratio of 57.83, a P/E/G ratio of 2.72 and a beta of 1.37.

Institutional Trading of Globant

Large investors have recently added to or reduced their stakes in the business. Equitable Trust Co. grew its stake in shares of Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after acquiring an additional 50 shares during the period. M&T Bank Corp grew its position in shares of Globant by 3.8% during the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after buying an additional 71 shares in the last quarter. ORG Partners LLC increased its holdings in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 92 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Company Profile

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.