Globant S.A. (NYSE:GLOB – Get Free Report) shares fell 4.7% during mid-day trading on Wednesday. The stock traded as low as $46.50 and last traded at $46.5120. 56,541 shares were traded during trading, a decline of 96% from the average daily volume of 1,533,234 shares. The stock had previously closed at $48.81.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on GLOB shares. The Goldman Sachs Group dropped their price objective on shares of Globant from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Zacks Research lowered shares of Globant from a “hold” rating to a “strong sell” rating in a report on Monday, August 24th. UBS Group set a $38.00 price target on shares of Globant in a research report on Friday, August 14th. TD Cowen lowered their price target on Globant from $47.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 14th. Finally, Guggenheim lowered Globant from a “buy” rating to a “neutral” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.75.
Check Out Our Latest Research Report on Globant
Globant Stock Down 4.3%
The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 6.03 and a beta of 0.86. The firm has a 50-day moving average of $39.77 and a 200 day moving average of $41.72. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19.
Globant (NYSE:GLOB – Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $614.42 million during the quarter, compared to analyst estimates of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business 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. On average, sell-side analysts anticipate that Globant S.A. will post 4.57 earnings per share for the current year.
Insider Activity
In related news, CRO Fernando Matzkin sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive directly owned 71,608 shares of the company’s stock, valued at approximately $2,864,320. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Diego Tartara sold 6,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the sale, the chief technology officer directly owned 72,320 shares of the company’s stock, valued at approximately $2,925,344. The trade was a 7.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 14,500 shares of company stock worth $585,400. 2.67% of the stock is currently owned by company insiders.
Institutional Trading of Globant
Several large investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new position in Globant in the second quarter valued at about $10,878,000. NS Partners Ltd acquired a new stake in Globant during the 2nd quarter valued at approximately $4,847,000. Lazard Asset Management LLC grew its stake in Globant by 113.5% during the 1st quarter. Lazard Asset Management LLC now owns 326,027 shares of the information technology services provider’s stock valued at $15,033,000 after purchasing an additional 173,302 shares in the last quarter. BlackRock Inc. acquired a new stake in Globant during the 2nd quarter valued at approximately $128,713,000. Finally, ABN Amro Investment Solutions purchased a new stake in Globant during the 1st quarter worth approximately $10,146,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
Globant Company Profile
Globant is a technology services company that helps businesses design, build and manage digital products and platforms. Its offerings include software and product engineering, digital experience design, cloud services, data and artificial intelligence solutions, and technology consulting. Founded in Argentina in 2003, Globant serves clients across multiple industries and operates in markets around the world. The company organizes much of its work through specialized “Studios” focused on areas such as digital transformation and emerging technologies.
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