JPMorgan Chase & Co. Lowers Globant (NYSE:GLOB) Price Target to $75.00

Globant (NYSE:GLOB) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $78.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the information technology services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 22.85% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC decreased their price target on Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a report on Thursday, July 17th. They issued a “hold” rating and a $87.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Globant in a report on Wednesday, October 8th. The Goldman Sachs Group cut their price target on Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Finally, Scotiabank raised Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 price objective for the company in a research note on Monday, July 21st. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Globant currently has a consensus rating of “Hold” and a consensus target price of $111.93.

Globant Stock Down 2.8%

Shares of NYSE:GLOB opened at $61.05 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The firm has a market cap of $2.69 billion, a P/E ratio of 27.63, a P/E/G ratio of 5.81 and a beta of 1.20. Globant has a 12 month low of $54.36 and a 12 month high of $235.08. The company’s 50-day moving average price is $59.16 and its two-hundred day moving average price is $80.18.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, November 13th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). The company had revenue of $617.14 million for the quarter, compared to analyst estimates of $615.32 million. Globant had a return on equity of 10.55% and a net margin of 4.01%.Globant’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS. Q4 2025 guidance at 1.530- EPS. As a group, research analysts forecast that Globant will post 5.73 EPS for the current fiscal year.

Globant announced that its board has approved a share buyback program on Wednesday, October 1st that allows the company to buyback $125.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Globant

Several hedge funds have recently bought and sold shares of GLOB. Brooklyn Investment Group lifted its stake in Globant by 194.4% in the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Allworth Financial LP boosted its stake in Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 197 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Globant by 352.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 352 shares during the period. Signaturefd LLC lifted its holdings in shares of Globant by 29.7% in the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after purchasing an additional 89 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its position in shares of Globant by 27,766.7% during the third quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock worth $48,000 after buying an additional 833 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

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.