Citigroup Trims Globant (NYSE:GLOB) Target Price to $225.00

Globant (NYSE:GLOBGet Rating) had its target price trimmed by Citigroup from $270.00 to $225.00 in a research note issued to investors on Monday, The Fly reports. The firm currently has a buy rating on the information technology services provider’s stock.

Other research analysts also recently issued reports about the company. KeyCorp decreased their price target on Globant from $291.00 to $232.00 and set an overweight rating for the company in a report on Friday. The Goldman Sachs Group decreased their price target on Globant from $290.00 to $250.00 and set a buy rating for the company in a report on Thursday, September 29th. StockNews.com initiated coverage on Globant in a report on Wednesday, October 12th. They issued a hold rating for the company. Piper Sandler decreased their price target on Globant from $249.00 to $219.00 and set an overweight rating for the company in a report on Friday, October 21st. Finally, Cowen decreased their price target on Globant from $210.00 to $207.00 and set an outperform rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $235.00.

Globant Stock Up 1.7 %

Shares of NYSE GLOB opened at $177.25 on Monday. The business’s 50 day moving average price is $185.80 and its 200 day moving average price is $193.49. The firm has a market cap of $7.43 billion, a P/E ratio of 54.54 and a beta of 1.41. Globant has a 52 week low of $155.01 and a 52 week high of $324.29.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. IFP Advisors Inc increased its position in shares of Globant by 1,068.8% during the third quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Urban Wealth Management LLC purchased a new stake in shares of Globant during the second quarter worth approximately $29,000. First Horizon Advisors Inc. increased its position in shares of Globant by 852.9% during the second quarter. First Horizon Advisors Inc. now owns 324 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 290 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Globant by 1,729.4% during the third quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 294 shares in the last quarter. Finally, Castle Wealth Management LLC purchased a new stake in shares of Globant during the second quarter worth approximately $71,000. 88.96% of the stock is owned by institutional investors and hedge funds.

Globant Company Profile

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

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