Globant (NYSE:GLOB) Shares Gap Up – Still a Buy?

Globant S.A. (NYSE:GLOB) shares gapped up prior to trading on Thursday. The stock had previously closed at $34.70, but opened at $37.87. Globant shares last traded at $38.20, with a volume of 253,795 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLOB. UBS Group set a $38.00 price target on shares of Globant in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft set a $33.00 target price on shares of Globant in a report on Friday, July 10th. Wells Fargo & Company dropped their target price on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Citigroup cut their price target on shares of Globant from $42.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Globant from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Globant has an average rating of “Hold” and a consensus price target of $46.38.

Globant Stock Up 9.5%

The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.67 billion, a P/E ratio of 14.85, a PEG ratio of 2.21 and a beta of 0.98. The company’s 50 day moving average price is $37.41 and its two-hundred day moving average price is $38.53.

Globant (NYSE:GLOB) last announced 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 net margin of 4.63% and a return on equity of 9.28%. The business had revenue of $614.42 million for the quarter, compared to the consensus estimate of $612.86 million. During the same quarter last year, the firm posted $1.53 earnings per share. The business’s quarterly revenue 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. Equities analysts forecast that Globant S.A. will post 4.58 earnings per share for the current year.

Insider Activity

In other news, CRO Fernando Matzkin sold 2,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive owned 71,608 shares of the company’s stock, valued at $2,864,320. The trade was a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Diego Tartara sold 6,000 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $40.45, for a total value of $242,700.00. Following the completion of the sale, the chief technology officer owned 72,320 shares of the company’s stock, valued at $2,925,344. This trade represents a 7.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,500 shares of company stock valued at $585,400 in the last 90 days. Company insiders own 2.67% of the company’s stock.

Institutional Trading of Globant

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC bought a new position in shares of Globant during the 2nd quarter valued at approximately $342,000. Parkside Financial Bank & Trust increased its holdings in Globant by 89.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,550 shares of the information technology services provider’s stock worth $103,000 after acquiring an additional 1,680 shares in the last quarter. VELA Investment Management LLC raised its stake in Globant by 43.4% during the 2nd quarter. VELA Investment Management LLC now owns 48,900 shares of the information technology services provider’s stock worth $1,415,000 after acquiring an additional 14,800 shares during the period. Corient Private Wealth LP raised its stake in Globant by 148.5% during the 2nd quarter. Corient Private Wealth LP now owns 12,929 shares of the information technology services provider’s stock worth $374,000 after acquiring an additional 7,726 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its holdings in Globant by 45.0% during the second quarter. TD Waterhouse Canada Inc. now owns 3,485 shares of the information technology services provider’s stock valued at $109,000 after purchasing an additional 1,081 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Company Profile

Globant SA is a digitally native technology services company that helps organizations develop software, modernize technology platforms and pursue digital transformation initiatives. Its services include product engineering, cloud and infrastructure solutions, data and artificial intelligence, enterprise applications, user experience design, and technology consulting.

The company serves clients across industries such as financial services, healthcare, media and entertainment, retail, travel, and consumer products.