Globant (NYSE:GLOB) Stock Price Target Cut by Mizuho

Globant (NYSE:GLOB) had its price target reduced by research analysts at Mizuho from $59.00 to $51.00 in a report released on Tuesday, MarketBeat reports. The firm presently has an “outperform” rating on the information technology services provider’s stock. Mizuho’s price objective would suggest a potential upside of 43.65% from the company’s current price.

A number of other analysts also recently weighed in on GLOB. JPMorgan Chase & Co. reduced their target price on shares of Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Wells Fargo & Company lowered their price target on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Truist Financial dropped their price target on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, August 14th. Needham & Company LLC reduced their price objective on Globant from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, UBS Group set a $38.00 price objective on Globant in a research report on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.81.

Globant Trading Down 0.2%

GLOB stock opened at $35.50 on Tuesday. The firm has a fifty day moving average price of $37.62 and a 200 day moving average price of $38.22. Globant has a fifty-two week low of $27.56 and a fifty-two week high of $72.10. The firm has a market cap of $1.56 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 4.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). Globant had a net margin of 4.63% and a return on equity of 9.28%. The business had revenue of $614.42 million for the quarter, compared to analysts’ expectations of $612.86 million. During the same period in the previous year, the company earned $1.53 EPS. Globant’s revenue for the quarter was up .0% compared to the same quarter last year. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. Sell-side analysts anticipate that Globant will post 4.58 earnings per share for the current fiscal year.

Insider Activity at Globant

In other news, insider Wanda Weigert sold 6,000 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the sale, the insider directly owned 64,046 shares of the company’s stock, valued at approximately $2,590,660.70. The trade was a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Fernando Matzkin sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the transaction, the executive owned 71,608 shares in the company, valued at approximately $2,864,320. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,500 shares of company stock worth $585,400 in the last quarter. 2.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Globant

A number of hedge funds have recently added to or reduced their stakes in the stock. MidFirst Bank bought a new stake in shares of Globant during the fourth quarter valued at approximately $47,000. Essential Partners LLC purchased a new position in shares of Globant during the first quarter valued at $55,000. Allworth Financial LP purchased a new position in shares of Globant during the second quarter valued at $55,000. EverSource Wealth Advisors LLC raised its holdings in shares of Globant by 872.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,274 shares of the information technology services provider’s stock valued at $59,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Globant by 27.1% in the first quarter. Parallel Advisors LLC now owns 1,735 shares of the information technology services provider’s stock valued at $80,000 after acquiring an additional 370 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

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.