Truist Financial Cuts Globant (NYSE:GLOB) Price Target to $38.00

Globant (NYSE:GLOB) had its price target dropped by equities research analysts at Truist Financial from $44.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the information technology services provider’s stock. Truist Financial’s target price would suggest a potential upside of 2.61% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Needham & Company LLC dropped their price objective on shares of Globant from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday. Itau BBA Securities lowered shares of Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price target on the stock. in a report on Wednesday, July 8th. Wells Fargo & Company dropped their price objective on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. TD Cowen reduced their target price on shares of Globant from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Finally, William Blair lowered Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.69.

Globant Stock Down 9.6%

NYSE:GLOB traded down $3.96 during trading hours on Friday, reaching $37.03. The company’s stock had a trading volume of 4,233,540 shares, compared to its average volume of 1,709,777. The stock has a 50 day moving average price of $33.81 and a two-hundred day moving average price of $42.37. The company has a market capitalization of $1.62 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.46 and a beta of 1.02. Globant has a 12 month low of $27.56 and a 12 month high of $72.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.82 and a current ratio of 1.82.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share 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 analyst estimates of $612.86 million. Globant had a return on equity of 9.87% and a net margin of 4.46%.The business’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 4.89 EPS for the current fiscal year.

Globant declared that its Board of Directors has authorized 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 purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Globant

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Globant during the second quarter valued at approximately $128,713,000. Pzena Investment Management LLC bought a new position in Globant during the second quarter worth $111,700,000. Alliancebernstein L.P. boosted its holdings in Globant by 6,875.8% in the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock worth $84,413,000 after purchasing an additional 915,924 shares during the period. BNP Paribas Financial Markets increased its stake in Globant by 601.5% during the third quarter. BNP Paribas Financial Markets now owns 783,930 shares of the information technology services provider’s stock valued at $44,982,000 after purchasing an additional 672,175 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Globant by 340.3% during the fourth quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock worth $53,323,000 after purchasing an additional 630,440 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant News Summary

Here are the key news stories impacting Globant this week:

• Positive Sentiment: Globant’s AI business showed strong momentum: Glob.AI annual recurring revenue reached $52.8 million, up 61% sequentially, and management expects it to exceed $110 million by the end of 2026. Operating cash flow also improved, while liabilities declined. Globant Reports 2026 Second Quarter Financial Results
• Neutral Sentiment: Analysts remain divided. Guggenheim and TD Cowen retained “buy” ratings, while JPMorgan and Goldman Sachs maintained “neutral” ratings. However, all four firms reduced their price targets, to $50, $45, $44 and $52, respectively. The revised targets still imply considerable potential upside from recent levels, but the cuts signal reduced confidence in Globant’s near-term growth outlook. Analyst Price Target Updates
• Negative Sentiment: Second-quarter adjusted EPS of $1.40 missed the approximately $1.49–$1.50 consensus estimate and declined from $1.53 a year earlier. Revenue of $614.4 million was essentially flat year over year and only modestly above expectations, while gross profit fell 4.3%. Globant Q2 Earnings Lag Estimates
• Negative Sentiment: Management’s outlook was the primary pressure point. Third-quarter EPS guidance of $1.43 and revenue guidance of $607 million–$615 million were below consensus estimates of $1.52 and $626.2 million. Full-year revenue guidance of $2.4 billion–$2.5 billion also trails the $2.5 billion consensus midpoint, reinforcing concerns that the transition to AI services and broader demand recovery will take time. Globant Stock Plunges After Full-Year Outlook Cut

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.