Globant (NYSE:GLOB) CRO Fernando Matzkin Sells 2,500 Shares

Globant S.A. (NYSE:GLOB) CRO Fernando Matzkin sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive owned 71,608 shares in the company, valued at approximately $2,864,320. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Globant Trading Up 3.6%

NYSE:GLOB opened at $40.29 on Friday. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10. The firm has a 50-day moving average price of $35.37 and a two-hundred day moving average price of $40.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.51 and a beta of 0.98.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 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 return on equity of 9.28% and a net margin of 4.63%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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. On average, equities analysts expect that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant announced that its Board of Directors has initiated a stock buyback program on Monday, May 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the information technology services provider to buy up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GLOB. Truist Financial reduced their price objective on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a report on Friday, August 14th. William Blair lowered Globant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group dropped their price target on Globant from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. TD Cowen cut their price target on Globant from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Canaccord Genuity Group set a $35.00 price objective on Globant in a report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.38.

Hedge Funds Weigh In On Globant

Hedge funds have recently bought and sold shares of the company. Maxi Investments CY Ltd bought a new position in shares of Globant during the 4th quarter valued at about $2,255,000. Principal Financial Group Inc. lifted its position in Globant by 340.3% in the fourth quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock valued at $53,323,000 after purchasing an additional 630,440 shares during the last quarter. Lazard Asset Management LLC boosted its position in Globant by 113.5% during the 1st quarter. Lazard Asset Management LLC now owns 326,027 shares of the information technology services provider’s stock valued at $15,033,000 after buying an additional 173,302 shares during the period. ABN Amro Investment Solutions bought a new stake in Globant in the 1st quarter worth $10,146,000. Finally, Bank of America Corp DE increased its position in shares of Globant by 12.9% in the first quarter. Bank of America Corp DE now owns 413,210 shares of the information technology services provider’s stock valued at $19,053,000 after acquiring an additional 47,110 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Globant

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.