Globant (NYSE:GLOB) Board of Directors Approves Stock Buyback Program

Globant (NYSE:GLOB) declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 1st, RTT News reports. The company plans to buyback $125.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Globant Price Performance

Shares of GLOB stock opened at $60.22 on Friday. The company has a market capitalization of $2.65 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. The firm has a fifty day simple moving average of $67.22 and a 200-day simple moving average of $91.80. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant has a twelve month low of $54.36 and a twelve month high of $238.32.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.01. The business had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities research analysts anticipate that Globant will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLOB. Scotiabank raised shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price target for the company in a research report on Monday, July 21st. Canaccord Genuity Group reaffirmed a “hold” rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a research report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, July 17th. They set a “hold” rating and a $87.00 price target for the company. Finally, UBS Group decreased their price objective on shares of Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, August 20th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Globant has a consensus rating of “Hold” and a consensus target price of $139.47.

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.