Globant (NYSE:GLOB) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Globant (NYSE:GLOB) to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Scotiabank upgraded Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price target for the company in a report on Monday, July 21st. Citigroup initiated coverage on Globant in a report on Wednesday. They set a “neutral” rating and a $67.00 price target for the company. UBS Group decreased their price target on Globant from $120.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. The Goldman Sachs Group decreased their price target on Globant from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, Needham & Company LLC reduced their price objective on Globant from $115.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Seven investment analysts have rated the stock with a Buy rating, nine 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 $122.13.

Globant Trading Down 0.4%

NYSE GLOB opened at $59.69 on Wednesday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 5.70 and a beta of 1.17. Globant has a 52 week low of $54.36 and a 52 week high of $238.32. The business has a 50 day moving average price of $60.84 and a 200-day moving average price of $85.62. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.01. Globant had a return on equity of 10.76% and a net margin of 4.44%.The business had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. During the same quarter in the prior year, the company posted $1.51 earnings per share. Globant’s revenue was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities analysts expect that Globant will post 5.73 earnings per share for the current fiscal year.

Globant declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 1st that allows the company to repurchase $125.00 million in shares. This repurchase authorization allows the information technology services provider to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLOB. Brooklyn Investment Group grew its stake in shares of Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after acquiring an additional 140 shares during the period. Allworth Financial LP grew its stake in shares of Globant by 214.1% during the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 197 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Globant by 352.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 352 shares during the period. Physician Wealth Advisors Inc. grew its stake in shares of Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider’s stock worth $31,000 after acquiring an additional 155 shares during the period. Finally, Bessemer Group Inc. bought a new position in shares of Globant during the 1st quarter worth $39,000. Institutional investors own 91.60% of the company’s stock.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.