Globant (NYSE:GLOB) Price Target Lowered to $50.00 at Wells Fargo & Company

Globant (NYSE:GLOB) had its price target trimmed by Wells Fargo & Company from $57.00 to $50.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the information technology services provider’s stock.

Several other analysts also recently weighed in on GLOB. Canaccord Genuity Group cut their price objective on shares of Globant from $70.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, February 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. UBS Group reaffirmed a “neutral” rating and set a $75.00 price target on shares of Globant in a report on Monday, January 19th. Guggenheim reduced their price objective on Globant from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on Globant from $75.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Globant presently has an average rating of “Hold” and an average price target of $80.80.

Globant Trading Down 1.9%

Shares of NYSE GLOB opened at $44.49 on Friday. Globant has a 12-month low of $40.76 and a 12-month high of $142.24. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.64 and a beta of 1.21. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $53.09 and its 200 day simple moving average is $59.28.

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. The firm had revenue of $612.47 million during the quarter, compared to the consensus estimate of $605.61 million. Globant had a return on equity of 9.98% and a net margin of 4.19%.The firm’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.75 EPS. 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 expect that Globant will post 5.73 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. Principal Financial Group Inc. grew 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 worth $10,630,000 after acquiring an additional 40,024 shares during the period. ING Groep NV bought a new position in shares of Globant during the 3rd quarter valued at about $8,657,000. Border to Coast Pensions Partnership Ltd boosted its position in shares of Globant by 38.3% during the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 214,167 shares of the information technology services provider’s stock valued at $12,289,000 after purchasing an additional 59,330 shares in the last quarter. Invesco Ltd. grew its stake in shares of Globant by 199.1% in the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock worth $256,819,000 after purchasing an additional 1,881,940 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Globant by 106.7% in the 3rd quarter. Citigroup Inc. now owns 324,199 shares of the information technology services provider’s stock worth $18,603,000 after purchasing an additional 167,341 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

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.