Globant (NYSE:GLOB) Stock Rating Lowered by Zacks Research

Globant (NYSE:GLOB) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on GLOB. Weiss Ratings cut shares of Globant from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Itau BBA Securities cut Globant from an “outperform” rating to a “market perform” rating and set a $39.00 target price on the stock. in a report on Wednesday, July 8th. Guggenheim lowered their target price on shares of Globant from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Truist Financial dropped their target price on shares of Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, August 14th. Finally, Wells Fargo & Company decreased their price target on Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. 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. Based on data from MarketBeat.com, Globant presently has an average rating of “Hold” and an average price target of $46.38.

Globant Price Performance

Shares of NYSE GLOB opened at $40.02 on Monday. The stock has a market capitalization of $1.75 billion, a PE ratio of 15.69, a P/E/G ratio of 2.54 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day moving average price of $34.03 and a two-hundred 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.

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

Globant announced that its board has authorized a stock repurchase plan on Monday, May 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Globant

A number of institutional investors and hedge funds have recently made changes to their positions in GLOB. Allworth Financial LP grew its stake in shares of Globant by 473.3% in the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 407 shares during the period. Larson Financial Group LLC increased its position in Globant by 561.2% in the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock valued at $45,000 after buying an additional 578 shares in the last quarter. MidFirst Bank acquired a new position in Globant during the 4th quarter worth approximately $47,000. Essential Partners LLC acquired a new position in Globant during the 1st quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Globant by 872.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,274 shares of the information technology services provider’s stock worth $59,000 after acquiring an additional 1,143 shares in the last quarter. 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.