Globant (NYSE:GLOB) Shares Gap Down – What’s Next?

Globant S.A. (NYSE:GLOB)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $65.79, but opened at $61.93. Globant shares last traded at $61.3420, with a volume of 70,577 shares changing hands.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Citigroup raised shares of Globant to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Globant from $78.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, November 14th. Canaccord Genuity Group lowered their price target on shares of Globant from $80.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 14th. Finally, Jefferies Financial Group cut shares of Globant from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $80.00 to $61.00 in a research report on Thursday, November 20th. Six equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.75.

Globant Stock Down 11.8%

The company has a market cap of $2.55 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 7.21 and a beta of 1.19. The firm’s 50 day moving average price is $67.28 and its two-hundred day moving average price is $66.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.02). Globant had a return on equity of 10.39% and a net margin of 4.01%.The company had revenue of $617.14 million during the quarter, compared to analyst estimates of $615.32 million. During the same quarter in the previous year, the business posted $1.63 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in Globant by 199.1% in the 2nd quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after buying an additional 1,881,940 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Globant by 791.2% in the third quarter. SG Americas Securities LLC now owns 57,735 shares of the information technology services provider’s stock valued at $3,313,000 after acquiring an additional 51,257 shares in the last quarter. Hussman Strategic Advisors Inc. increased its position in shares of Globant by 50.0% during the third quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the information technology services provider’s stock valued at $3,615,000 after acquiring an additional 21,000 shares during the last quarter. Entropy Technologies LP lifted its holdings in Globant by 98.9% during the second quarter. Entropy Technologies LP now owns 31,467 shares of the information technology services provider’s stock worth $2,858,000 after acquiring an additional 15,648 shares during the period. Finally, Y Intercept Hong Kong Ltd grew its stake in Globant by 114.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 74,531 shares of the information technology services provider’s stock valued at $4,277,000 after purchasing an additional 39,722 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Company Profile

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.