Wells Fargo & Company Upgrades Globant (NYSE:GLOB) to “Hold”

Globant (NYSE:GLOB) was upgraded by Wells Fargo & Company to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on GLOB. UBS Group cut their price target on Globant from $120.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, August 20th. Needham & Company LLC cut their target price on Globant from $115.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. Scotiabank upgraded shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 target price for the company in a report on Monday, July 21st. Citigroup began coverage on shares of Globant in a report on Wednesday. They issued a “neutral” rating and a $67.00 price target on the stock. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $97.00 price objective (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Globant has a consensus rating of “Hold” and an average target price of $122.13.

Globant Trading Up 0.8%

NYSE GLOB opened at $60.08 on Wednesday. Globant has a one year low of $54.36 and a one year high of $238.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 5.67 and a beta of 1.17. The company’s 50-day simple moving average is $60.98 and its two-hundred day simple moving average is $85.88.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. The firm had revenue of $614.18 million for the quarter, compared to the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities analysts forecast that Globant will post 5.73 EPS for the current fiscal year.

Globant declared that its board has initiated a stock buyback plan on Wednesday, October 1st that authorizes the company to buyback $125.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Globant

Large investors have recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in shares of Globant by 49.0% in the first quarter. Voya Investment Management LLC now owns 462,422 shares of the information technology services provider’s stock worth $54,436,000 after buying an additional 152,152 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Globant by 17.1% in the 1st quarter. Raymond James Financial Inc. now owns 91,427 shares of the information technology services provider’s stock valued at $10,763,000 after acquiring an additional 13,369 shares during the period. Principal Financial Group Inc. raised its stake in Globant by 6.8% in the 1st quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider’s stock worth $15,868,000 after acquiring an additional 8,599 shares during the last quarter. Cetera Investment Advisers raised its stake in Globant by 23.7% in the 1st quarter. Cetera Investment Advisers now owns 24,926 shares of the information technology services provider’s stock worth $2,934,000 after acquiring an additional 4,774 shares during the last quarter. Finally, Dalton Investments Inc. lifted its position in Globant by 58.6% during the 1st quarter. Dalton Investments Inc. now owns 31,654 shares of the information technology services provider’s stock worth $3,726,000 after acquiring an additional 11,700 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.