Globant (NYSE:GLOB) Shares Down 4.2% – Should You Sell?

Globant S.A. (NYSE:GLOB) shares traded down 4.2% during trading on Friday. The company traded as low as $35.52 and last traded at $35.4150. 53,237 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,615,274 shares. The stock had previously closed at $36.98.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Weiss Ratings cut Globant from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, August 14th. William Blair downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Wedbush lowered shares of Globant from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $54.00 to $37.00 in a research note on Friday, August 14th. Finally, Needham & Company LLC cut their price target on shares of Globant from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Globant has a consensus rating of “Hold” and an average price target of $46.38.

Globant Stock Performance

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 $1.55 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 4.43 and a beta of 0.98. The company has a 50-day moving average of $37.54 and a 200-day moving average of $38.48.

Globant (NYSE:GLOB) last issued its 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 return on equity of 9.28% and a net margin of 4.63%.The business had revenue of $614.42 million for the quarter, compared to analyst estimates of $612.86 million. During the same period last year, the company posted $1.53 earnings per share. The firm’s revenue for the quarter 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 research analysts forecast that Globant S.A. will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Diego Tartara sold 6,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the sale, the chief technology officer directly owned 72,320 shares in the company, valued at approximately $2,925,344. This represents a 7.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Fernando Matzkin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive directly owned 71,608 shares in the company, 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. Insiders have sold a total of 14,500 shares of company stock worth $585,400 over the last quarter. 2.67% of the stock is owned by company insiders.

Institutional Trading of Globant

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

Globant Company Profile

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.