Globant (NYSE:GLOB) Shares Gap Down – What’s Next?

Shares of Globant S.A. (NYSE:GLOB) gapped down prior to trading on Tuesday . The stock had previously closed at $65.79, but opened at $61.93. Globant shares last traded at $61.3420, with a volume of 70,577 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial began coverage on Globant in a research note on Tuesday, January 6th. They set a “hold” rating and a $72.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. The Goldman Sachs Group dropped their target price on shares of Globant from $105.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Globant from $78.00 to $75.00 and set a “neutral” rating for the company in a report on Friday, November 14th. Finally, Wells Fargo & Company raised their price target on Globant from $61.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.75.

Globant Price Performance

The company has a market cap of $2.54 billion, a P/E ratio of 26.10, a P/E/G ratio of 6.26 and a beta of 1.19. The stock has a 50-day simple moving average of $67.13 and a 200 day simple moving average of $66.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93.

Globant (NYSE:GLOB) last issued its earnings results 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 analyst estimates of $615.32 million. Globant had a net margin of 4.01% and a return on equity of 10.39%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. 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 and its Q4 2025 guidance at 1.530- EPS. On average, equities analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Institutional Investors Weigh In On Globant

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Globant in the 1st quarter worth approximately $447,000. Goldman Sachs Group Inc. boosted its stake in shares of Globant by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after purchasing an additional 30,386 shares in the last quarter. CWM LLC grew its holdings in shares of Globant by 30.1% in the 2nd quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 147 shares during the last quarter. S Bank Fund Management Ltd acquired a new stake in shares of Globant during the 2nd quarter worth about $5,360,000. Finally, ARGA Investment Management LP bought a new position in Globant during the 2nd quarter valued at about $1,319,000. 91.60% of the stock is owned by institutional investors and hedge funds.

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.