Share Buyback Program Announced by Globant (NYSE:GLOB) Board

Globant (NYSE:GLOB) declared that its Board of Directors has approved a share repurchase program on Wednesday, October 1st, RTT News reports. The company plans to repurchase $125.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Globant Price Performance

GLOB opened at $56.91 on Thursday. Globant has a 12-month low of $54.36 and a 12-month high of $238.32. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.17. The stock has a fifty day simple moving average of $68.46 and a two-hundred day simple moving average of $92.85. 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 (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business had revenue of $614.18 million for the quarter, compared to analysts’ expectations of $612.66 million. During the same quarter in the prior year, the company earned $1.51 earnings per share. The business’s revenue was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Research analysts predict that Globant will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on GLOB. Deutsche Bank Aktiengesellschaft started coverage on Globant in a report on Thursday, July 17th. They issued a “hold” rating and a $87.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and set a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Canaccord Genuity Group reiterated a “hold” rating and issued a $97.00 price objective (down previously from $165.00) on shares of Globant in a report on Thursday, June 26th. Needham & Company LLC dropped their price target on Globant from $115.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Finally, Scotiabank raised shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective on the stock in a research report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.47.

About Globant

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.