Globant (NYSE:GLOB) Stock Price Target Raised at Wells Fargo & Company

Globant (NYSE:GLOB) had its target price upped by analysts at Wells Fargo & Company from $39.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 5.91% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on the company. Canaccord Genuity Group set a $35.00 price objective on Globant in a report on Friday, August 14th. Zacks Research lowered Globant from a “hold” rating to a “strong sell” rating in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft set a $33.00 target price on Globant in a research note on Friday, July 10th. William Blair cut shares of Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Citigroup reissued a “neutral” rating on shares of Globant in a research note on Monday. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Globant presently has a consensus rating of “Hold” and a consensus target price of $45.19.

Globant Price Performance

Shares of NYSE GLOB traded up $0.29 during mid-day trading on Monday, reaching $45.32. 129,801 shares of the company were exchanged, compared to its average volume of 1,553,025. Globant has a 52 week low of $27.56 and a 52 week high of $72.10. The company’s 50 day moving average price is $38.08 and its 200 day moving average price is $37.74. The stock has a market capitalization of $1.99 billion, a PE ratio of 17.84, a PEG ratio of 5.72 and a beta of 0.98. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.10). Globant had a return on equity of 9.28% and a net margin of 4.63%. The firm had revenue of $614.42 million for the quarter, compared to the consensus estimate of $612.86 million. During the same period last year, the firm earned $1.53 EPS. The company’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. Sell-side analysts forecast that Globant will post 4.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globant news, CTO Diego Tartara sold 6,000 shares of Globant stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $40.45, for a total value of $242,700.00. Following the transaction, the chief technology officer directly owned 72,320 shares of the company’s stock, valued at $2,925,344. The trade was a 7.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Fernando Matzkin sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive owned 71,608 shares of the company’s stock, valued at $2,864,320. The trade was a 3.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,500 shares of company stock valued at $585,400 in the last ninety days. Company insiders own 2.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Pzena Investment Management LLC bought a new stake in Globant during the 1st quarter valued at $136,893,000. BlackRock Inc. bought a new stake in Globant in the 2nd quarter worth $128,713,000. Alyeska Investment Group L.P. grew its holdings in Globant by 78.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider’s stock worth $85,516,000 after acquiring an additional 1,299,353 shares during the last quarter. Wellington Management Group LLP increased its position in shares of 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 valued at $49,376,000 after acquiring an additional 1,327,268 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Globant by 12.9% in the first quarter. Bank of America Corp DE now owns 413,210 shares of the information technology services provider’s stock valued at $19,053,000 after acquiring an additional 47,110 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Company Profile

Globant SA is a digitally native technology services company that helps organizations develop, modernize and operate digital products and experiences. Its services include software engineering, cloud computing, data and artificial intelligence, enterprise application modernization, cybersecurity, user experience design, and digital transformation consulting.

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