KeyCorp Lowers Globant (NYSE:GLOB) Price Target to $218.00

Globant (NYSE:GLOB) had its price target reduced by KeyCorp from $230.00 to $218.00 in a report released on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the information technology services provider’s stock.

Several other brokerages also recently commented on GLOB. Wedbush reaffirmed an outperform rating and set a $250.00 target price on shares of Globant in a report on Tuesday, September 19th. StockNews.com started coverage on shares of Globant in a research note on Thursday, October 5th. They issued a hold rating for the company. Needham & Company LLC lifted their price objective on shares of Globant from $205.00 to $215.00 and gave the stock a buy rating in a research note on Friday. Bank of America started coverage on shares of Globant in a research note on Wednesday, October 11th. They issued a neutral rating and a $202.00 price objective for the company. Finally, Scotiabank began coverage on shares of Globant in a research note on Wednesday, August 23rd. They issued a sector outperform rating and a $210.00 price objective for the company. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globant 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 company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 60.89 and a beta of 1.31. The company has a 50-day simple moving average of $189.64 and a 200 day simple moving average of $182.11. Globant has a 52 week low of $135.40 and a 52 week high of $211.93.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CI Investments Inc. increased its holdings in Globant by 122.0% during the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock worth $26,000 after buying an additional 72 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Globant by 233.3% in the first quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 140 shares during the last quarter. Clearstead Advisors LLC lifted its stake in Globant by 1,566.7% in the first 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 during the last quarter. Cornerstone Planning Group LLC purchased a new position in Globant in the second quarter valued at approximately $50,000. Finally, Fortis Capital Advisors LLC purchased a new position in Globant in the first quarter valued at approximately $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.