Globant (NYSE:GLOB) Given New $51.00 Price Target at Mizuho

by · The Markets Daily

Globant (NYSE:GLOB – Free Report) had its target price lowered by Mizuho from $59.00 to $51.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the information technology services provider’s stock.

Several other equities research analysts have also weighed in on GLOB. Susquehanna cut their target price on shares of Globant from $78.00 to $70.00 and set a “positive” rating on the stock in a report on Friday, August 14th. TD Cowen decreased their price target on shares of Globant from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 14th. Truist Financial decreased their price target on shares of Globant from $44.00 to $38.00 and set a “hold” rating for the company in a report on Friday, August 14th. Itau BBA Securities cut shares of Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price objective for the company. in a research report on Wednesday, July 8th. Finally, Citigroup dropped their price objective on Globant from $42.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Globant has a consensus rating of “Hold” and an average target price of $44.81.

View Our Latest Research Report on GLOB

Globant Price Performance

Globant stock opened at $35.52 on Tuesday. 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 firm has a market capitalization of $1.56 billion, a P/E ratio of 13.93, a PEG ratio of 4.57 and a beta of 0.98. The business has a 50-day moving average of $37.67 and a 200-day moving average of $38.29. Globant has a 1 year low of $27.56 and a 1 year high of $72.10.

Globant (NYSE:GLOB – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). Globant had a net margin of 4.63% and a return on equity of 9.28%. The firm had revenue of $614.42 million during the quarter, compared to analyst estimates of $612.86 million. During the same quarter in the prior year, the business earned $1.53 earnings per share. The business’s revenue was up .0% on a year-over-year basis. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. On average, equities analysts anticipate that Globant will post 4.58 EPS for the current year.

Insider Activity at Globant

In other Globant news, CTO Diego Tartara sold 6,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the transaction, the chief technology officer owned 72,320 shares in the company, valued at approximately $2,925,344. This represents a 7.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Fernando Matzkin sold 2,500 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive owned 71,608 shares of the company’s stock, valued at approximately $2,864,320. This trade represents a 3.37% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 14,500 shares of company stock valued at $585,400. 2.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Globant during the 2nd quarter worth approximately $128,713,000. Pzena Investment Management LLC acquired a new stake in Globant in the 2nd quarter valued at $111,700,000. Wellington Management Group LLP lifted its position in Globant by 350.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,706,156 shares of the information technology services provider’s stock worth $49,376,000 after buying an additional 1,327,268 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Globant by 78.5% during the 2nd quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider’s stock worth $85,516,000 after buying an additional 1,299,353 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Globant in the 2nd quarter valued at about $10,878,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Company Profile

(Get Free Report)

Globant SA (NYSE:GLOB) is a digitally native technology services company that helps organizations develop, modernize and manage digital products and business operations. Its services include software product engineering, user experience and design, cloud transformation, data and analytics, artificial intelligence, enterprise platforms, cybersecurity and digital marketing.

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

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