Globant (NYSE:GLOB) Shares Gap Up – Still a Buy?

Globant S.A. (NYSE:GLOB)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $34.70, but opened at $37.87. Globant shares last traded at $38.20, with a volume of 253,795 shares traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on GLOB shares. Truist Financial cut their price target on shares of Globant from $44.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, August 14th. Weiss Ratings downgraded Globant from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 14th. The Goldman Sachs Group decreased their price objective on Globant from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Wells Fargo & Company lowered their target price on Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Finally, UBS Group set a $38.00 price target on Globant in a research report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.38.

Globant Trading Up 9.5%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $1.67 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. The stock has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $38.53.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 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 the consensus estimate of $612.86 million. During the same quarter in the prior year, the company earned $1.53 EPS. Globant’s revenue 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. On average, research analysts forecast that Globant S.A. will post 4.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Diego Tartara sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total value of $242,700.00. Following the completion of the sale, the chief technology officer directly owned 72,320 shares of the company’s stock, valued at approximately $2,925,344. This trade represents a 7.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Wanda Weigert sold 6,000 shares of Globant stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the sale, the insider directly owned 64,046 shares in the company, valued at $2,590,660.70. The trade was a 8.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 14,500 shares of company stock worth $585,400. 2.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GLOB. BlackRock Inc. bought a new stake in shares of Globant in the 2nd quarter worth approximately $128,713,000. Pzena Investment Management LLC bought a new position in Globant during the 2nd quarter valued at approximately $111,700,000. Wellington Management Group LLP increased its position in Globant by 350.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,706,156 shares of the information technology services provider’s stock valued at $49,376,000 after buying an additional 1,327,268 shares in the last quarter. Alyeska Investment Group L.P. raised its stake 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 buying an additional 1,299,353 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in Globant during the second quarter valued at $10,878,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

About Globant

Globant SA is a digitally native technology services company that helps organizations develop software, modernize technology platforms and pursue digital transformation initiatives. Its services include product engineering, cloud and infrastructure solutions, data and artificial intelligence, enterprise applications, user experience design, and technology consulting.

The company serves clients across industries such as financial services, healthcare, media and entertainment, retail, travel, and consumer products.