Mizuho Lowers Globant (NYSE:GLOB) Price Target to $252.00

Globant (NYSE:GLOB) had its price objective cut by equities researchers at Mizuho from $279.00 to $252.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Mizuho’s price target suggests a potential upside of 46.74% from the stock’s current price.

A number of other brokerages have also recently weighed in on GLOB. Guggenheim started coverage on Globant in a research note on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective for the company. KeyCorp cut their price objective on shares of Globant from $272.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. Citigroup reduced their price objective on shares of Globant from $235.00 to $215.00 and set a “buy” rating for the company in a research report on Friday, May 17th. JPMorgan Chase & Co. dropped their price objective on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, TD Cowen lowered their price target on shares of Globant from $235.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.41.

Globant Stock Performance

Shares of Globant stock opened at $171.73 on Wednesday. Globant has a one year low of $160.12 and a one year high of $251.50. The business has a 50-day simple moving average of $188.61 and a 200-day simple moving average of $211.49. The company has a market cap of $7.40 billion, a PE ratio of 45.07, a P/E/G ratio of 1.36 and a beta of 1.35.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. CI Investments Inc. increased 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 during the period. Accent Capital Management LLC acquired a new position in Globant during the fourth quarter worth $29,000. BOKF NA lifted its position in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the last quarter. RiverPark Advisors LLC acquired a new position in Globant during the first quarter valued at approximately $54,000. Finally, Principal Securities Inc. acquired a new stake in shares of Globant in the fourth quarter worth $56,000. Institutional investors own 91.60% of the company’s stock.

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.