Globant (NYSE:GLOB) Downgraded to Strong Sell Rating by Zacks Research

Globant (NYSE:GLOB) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their target price on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. UBS Group set a $38.00 price target on Globant in a research report on Friday, August 14th. Itau BBA Securities cut Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price objective on the stock. in a research note on Wednesday, July 8th. Guggenheim decreased their price objective on Globant from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. lowered their price objective on Globant from $47.00 to $44.00 and set a “neutral” rating for the company in a research note 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 issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.38.

Globant Stock Up 1.1%

NYSE GLOB opened at $40.02 on Monday. The stock has a 50 day moving average price of $34.03 and a 200-day moving average price of $40.85. Globant has a one year low of $27.56 and a one year high of $72.10. 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 company has a market capitalization of $1.75 billion, a P/E ratio of 15.69, a P/E/G ratio of 2.54 and a beta of 1.02.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.10). The business had revenue of $614.42 million during the quarter, compared to the consensus estimate of $612.86 million. Globant had a return on equity of 9.28% and a net margin of 4.63%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.53 EPS. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. As a group, equities analysts predict that Globant will post 4.65 EPS for the current fiscal year.

Globant declared that its board has authorized a share buyback plan on Monday, May 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Globant

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its stake in Globant by 7.2% in the fourth quarter. Sanctuary Advisors LLC now owns 3,801 shares of the information technology services provider’s stock worth $248,000 after purchasing an additional 255 shares during the last quarter. CWM LLC grew its stake in shares of Globant by 33.7% during the fourth quarter. CWM LLC now owns 1,151 shares of the information technology services provider’s stock valued at $75,000 after buying an additional 290 shares during the last quarter. 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 worth $80,000 after buying an additional 370 shares during the period. IHT Wealth Management LLC raised its holdings in shares of Globant by 9.4% in the second quarter. IHT Wealth Management LLC now owns 4,390 shares of the information technology services provider’s stock worth $399,000 after buying an additional 376 shares during the period. Finally, Sora Investors LLC lifted its stake in shares of Globant by 0.4% during the 4th quarter. Sora Investors LLC now owns 85,714 shares of the information technology services provider’s stock worth $5,603,000 after acquiring an additional 379 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

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.