Globant (NYSE:GLOB) Shares Down 5.3% – Here’s Why

Globant S.A. (NYSE:GLOB)’s stock price dropped 5.3% during trading on Tuesday. The stock traded as low as $42.70 and last traded at $42.6170. Approximately 158,420 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,553,018 shares. The stock had previously closed at $45.00.

Analyst Ratings Changes

A number of research firms have recently commented on GLOB. Guggenheim reduced their price target on shares of Globant from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Wells Fargo & Company increased their price objective on Globant from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday. Truist Financial lowered their price objective on Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Susquehanna dropped their price objective on Globant from $78.00 to $70.00 and set a “positive” rating for the company in a research note on Friday, August 14th. Finally, Zacks Research cut Globant from a “hold” rating to a “strong sell” rating in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Globant presently has a consensus rating of “Hold” and a consensus target price of $45.75.

Globant Price Performance

The firm has a market capitalization of $1.90 billion, a PE ratio of 17.05, a P/E/G ratio of 5.72 and a beta of 0.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50 day moving average is $38.45 and its two-hundred day moving average is $42.61.

Globant (NYSE:GLOB) last released its quarterly 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). The company had revenue of $614.42 million during the quarter, compared to analysts’ expectations of $612.86 million. Globant had a return on equity of 9.28% and a net margin of 4.63%. Globant’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $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, research analysts anticipate that Globant S.A. will post 4.57 EPS for the current year.

Insider Buying and Selling

In related news, insider Wanda Weigert sold 6,000 shares of the stock in a transaction 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 insider owned 64,046 shares of the company’s stock, valued at $2,590,660.70. This represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Fernando Matzkin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive owned 71,608 shares in the company, valued at $2,864,320. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 14,500 shares of company stock worth $585,400. Corporate insiders own 2.67% of the company’s stock.

Hedge Funds Weigh In On Globant

A number of hedge funds and other institutional investors have recently modified their holdings of GLOB. BlackRock Inc. purchased a new position in shares of Globant during the 2nd quarter valued at about $128,713,000. Pzena Investment Management LLC purchased a new stake in Globant in the second quarter worth approximately $111,700,000. Alyeska Investment Group L.P. boosted its stake in Globant by 78.5% in the second 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 buying an additional 1,299,353 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 buying an additional 1,327,268 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in 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 worth $19,053,000 after buying an additional 47,110 shares in the last quarter. 91.60% of the stock is currently 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.