Globant (NYSE:GLOB) Coverage Initiated by Analysts at Wedbush

Equities researchers at Wedbush started coverage on shares of Globant (NYSE:GLOB) in a research note issued to investors on Thursday,Benzinga reports. The firm set an “outperform” rating and a $61.00 price target on the information technology services provider’s stock. Wedbush’s target price indicates a potential upside of 32.96% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. TD Cowen decreased their price objective on shares of Globant from $74.00 to $72.00 and set a “buy” rating on the stock in a report on Monday. Mizuho reduced their target price on shares of Globant from $91.00 to $76.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Canaccord Genuity Group reduced their target price on shares of Globant from $70.00 to $50.00 and set a “hold” rating on the stock in a research note on Friday, February 27th. UBS Group reaffirmed a “neutral” rating and issued a $75.00 target price on shares of Globant in a research note on Monday, January 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Globant from $75.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Globant currently has an average rating of “Hold” and an average price target of $79.12.

Globant Stock Down 0.5%

Shares of NYSE:GLOB opened at $45.88 on Thursday. Globant has a 12 month low of $40.76 and a 12 month high of $142.24. The company’s 50-day moving average price is $49.65 and its two-hundred day moving average price is $58.70. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.01 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.73 and a beta of 1.22.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 26th. The information technology services provider reported $1.54 EPS for the quarter, hitting analysts’ consensus estimates of $1.54. Globant had a net margin of 4.19% and a return on equity of 9.98%. The firm had revenue of $612.47 million for the quarter, compared to analyst estimates of $605.61 million. During the same quarter in the prior year, the firm earned $1.75 EPS. The company’s revenue was down 4.7% on a year-over-year basis. Globant has set its Q1 2026 guidance at 1.440-1.540 EPS and its FY 2026 guidance at 6.100-6.500 EPS. As a group, research analysts forecast that Globant will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Globant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Globant in the 1st quarter valued at about $447,000. Goldman Sachs Group Inc. raised its position in shares of Globant by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after acquiring an additional 30,386 shares during the period. First Trust Advisors LP raised its position in shares of Globant by 61.9% in the 2nd quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock valued at $9,291,000 after acquiring an additional 39,122 shares during the period. Marshall Wace LLP raised its position in shares of Globant by 823.2% in the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock valued at $9,619,000 after acquiring an additional 94,424 shares during the period. Finally, Amundi raised its position in shares of Globant by 192.7% in the 2nd quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock valued at $727,000 after acquiring an additional 5,247 shares during the period. 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.