UBS Group Lowers Globant (NYSE:GLOB) Price Target to $70.00

Globant (NYSE:GLOB) had its price target cut by equities research analysts at UBS Group from $75.00 to $70.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the information technology services provider’s stock. UBS Group’s target price would indicate a potential upside of 17.21% from the company’s current price.

A number of other brokerages also recently weighed in on GLOB. Wells Fargo & Company raised shares of Globant to a “hold” rating in a research note on Wednesday, October 22nd. Needham & Company LLC reduced their price target on shares of Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of Globant in a research note on Thursday. Finally, Scotiabank upgraded shares of 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 analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Globant presently has an average rating of “Hold” and an average target price of $111.60.

Globant Stock Performance

NYSE:GLOB traded up $0.84 during midday trading on Tuesday, reaching $59.72. The stock had a trading volume of 864,506 shares, compared to its average volume of 1,247,986. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The firm’s fifty day simple moving average is $59.10 and its 200-day simple moving average is $79.50. The stock has a market capitalization of $2.63 billion, a P/E ratio of 27.07, a PEG ratio of 5.81 and a beta of 1.20. Globant has a 1-year low of $54.36 and a 1-year high of $235.08.

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

Globant announced that its Board of Directors 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 repurchase up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Globant

A number of hedge funds have recently made changes to their positions in the business. Brooklyn Investment Group boosted its holdings in shares of Globant by 194.4% in the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock worth $25,000 after buying an additional 140 shares during the last quarter. Allworth Financial LP boosted its stake in Globant by 214.1% in the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Globant by 352.0% in the third quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 352 shares during the last quarter. Signaturefd LLC grew its position in shares of Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider’s stock valued at $46,000 after acquiring an additional 89 shares during the period. Finally, SJS Investment Consulting Inc. increased its stake in shares of Globant by 27,766.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 836 shares of the information technology services provider’s stock worth $48,000 after purchasing an additional 833 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

About Globant

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.