Mizuho Cuts Globant (NYSE:GLOB) Price Target to $76.00

Globant (NYSE:GLOB) had its target price decreased by Mizuho from $91.00 to $76.00 in a report issued on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the information technology services provider’s stock.

A number of other research firms have also recently commented on GLOB. Wells Fargo & Company reduced their price objective on Globant from $68.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday. Canaccord Genuity Group cut their price target on Globant from $70.00 to $50.00 and set a “hold” rating for the company in a research note on Friday, February 27th. Guggenheim lowered their price objective on shares of Globant from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $75.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Finally, Truist Financial started coverage on shares of Globant in a report on Tuesday, January 6th. They set a “hold” rating and a $72.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Globant has an average rating of “Hold” and a consensus price target of $81.27.

Globant Stock Up 2.6%

GLOB opened at $53.34 on Tuesday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.95 and a beta of 1.21. The firm has a 50 day moving average price of $59.96 and a 200-day moving average price of $61.56. Globant has a twelve month low of $40.76 and a twelve month high of $145.46. The company has a quick ratio of 1.93, a current ratio of 1.64 and a debt-to-equity ratio of 0.16.

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

Hedge Funds Weigh In On Globant

A number of hedge funds have recently modified their holdings of GLOB. Principal Financial Group Inc. raised its holdings in Globant by 27.6% during the third quarter. Principal Financial Group Inc. now owns 185,263 shares of the information technology services provider’s stock valued at $10,630,000 after acquiring an additional 40,024 shares during the period. ING Groep NV bought a new position in shares of Globant in the third quarter worth about $8,657,000. Border to Coast Pensions Partnership Ltd grew its position in shares of Globant by 38.3% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 214,167 shares of the information technology services provider’s stock worth $12,289,000 after purchasing an additional 59,330 shares in the last quarter. Invesco Ltd. raised its stake in Globant by 199.1% during the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after purchasing an additional 1,881,940 shares during the period. Finally, SG Americas Securities LLC raised its stake in Globant by 791.2% during the 3rd quarter. SG Americas Securities LLC now owns 57,735 shares of the information technology services provider’s stock valued at $3,313,000 after purchasing an additional 51,257 shares during the period. 91.60% of the stock is currently owned by institutional investors.

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.