Globant (NYSE:GLOB) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Globant (NYSE:GLOB) from a hold rating to a strong sell rating in a research note issued to investors on Monday morning,Zacks.com reports.

GLOB has been the subject of several other reports. Weiss Ratings lowered Globant from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Citigroup lowered their target price on shares of Globant from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Truist Financial lowered their price objective on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, August 14th. Wedbush lowered Globant from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $54.00 to $37.00 in a research note on Friday, August 14th. Finally, Wells Fargo & Company cut their price target on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Globant has an average rating of “Hold” and a consensus target price of $46.38.

Globant Price Performance

Shares of GLOB opened at $40.02 on Monday. The company has a 50 day moving average price of $34.03 and a 200-day moving average price of $40.85. Globant has a fifty-two week low of $27.56 and a fifty-two week high of $72.10. The stock has a market capitalization of $1.75 billion, a PE ratio of 15.69, a PEG ratio of 2.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). The business had revenue of $614.42 million for the quarter, compared to the consensus estimate of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. Globant’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.53 earnings per share. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. Equities analysts predict that Globant will post 4.65 earnings per share for the current fiscal year.

Globant declared that its board has initiated a share repurchase plan on Monday, May 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the information technology services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Globant during the first quarter worth $447,000. Goldman Sachs Group Inc. raised its holdings in shares of Globant by 69.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after acquiring an additional 30,386 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Globant by 61.9% in the second quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock valued at $9,291,000 after acquiring an additional 39,122 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Globant by 823.2% in the second quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock worth $9,619,000 after acquiring an additional 94,424 shares during the last quarter. Finally, Amundi increased its position in shares of Globant by 192.7% during the second quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock worth $727,000 after purchasing an additional 5,247 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Company Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.