The Goldman Sachs Group Cuts Globant (NYSE:GLOB) Price Target to $90.00

Globant (NYSE:GLOB) had its target price decreased by The Goldman Sachs Group from $105.00 to $90.00 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the information technology services provider’s stock.

Several other analysts also recently issued reports on the stock. Scotiabank raised shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, July 17th. They issued a “hold” rating and a $87.00 price objective for the company. Needham & Company LLC lowered their price objective on shares of Globant from $115.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. downgraded shares of Globant from an “overweight” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Friday, August 15th. Finally, UBS Group lowered their price objective on shares of Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, August 20th. Eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $138.47.

Globant Trading Down 3.3%

NYSE GLOB opened at $57.52 on Thursday. Globant has a one year low of $54.36 and a one year high of $238.32. The company’s 50 day moving average price is $64.38 and its 200 day moving average price is $89.07. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 2.52 and a beta of 1.17.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter last year, the firm posted $1.51 earnings per share. Globant’s revenue for the quarter 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. On average, sell-side analysts predict that Globant will post 5.73 EPS for the current year.

Globant announced that its board has authorized a share repurchase program on Wednesday, October 1st that authorizes the company 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 management believes its shares are undervalued.

Institutional Trading of Globant

Hedge funds have recently made changes to their positions in the stock. Brooklyn Investment Group grew its position in shares of Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Globant by 140.9% in the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock worth $31,000 after purchasing an additional 155 shares during the period. Allworth Financial LP boosted its holdings in Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 197 shares during the period. Bessemer Group Inc. acquired a new position in Globant in the first quarter worth $39,000. Finally, Farther Finance Advisors LLC boosted its holdings in Globant by 186.7% in the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 252 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

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.