In recent trading, shares of Globant SA (Symbol: GLOB) have crossed above the average analyst 12-month target price of $228.72, changing hands for $229.25/share. When a stock reaches the target an analyst has set, they typically face two options: downgrade it due to valuation concerns, or adjust their target price higher. Reactions may also vary depending on recent developments that could be driving the stock price up; if the outlook for the company is improving, it may be time to raise that target price.
Among the analysts monitored within the Zacks coverage universe, there are 18 different targets for Globant SA contributing to this average. Nonetheless, this average is just a calculation; some analysts have lower targets, including one at $140.00, while another has set a target as high as $265.00. The standard deviation of these targets stands at $29.395.
The value of looking at the average GLOB price target lies in the “wisdom of crowds” approach. This method aggregates insights from multiple analysts rather than relying solely on the opinion of one individual expert. As GLOB surpasses the average target price of $228.72/share, investors are encouraged to evaluate the company’s situation: is $228.72 merely a stepping stone to a loftier target, or has the valuation expanded to the point where they should consider taking profits? The table below outlines current analyst perspectives on Globant SA:
| Recent GLOB Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 10 | 10 | 10 | 11 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 6 | 6 | 6 | 6 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 1.92 | 1.92 | 1.92 | 1.87 |
The average rating presented in the last row of the table above is on a scale from 1 to 5, where 1 signifies a Strong Buy and 5 indicates a Strong Sell. This article utilized data sourced from Zacks Investment Research via Quandl.com. For the latest Zacks research report on GLOB — FREE.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
