Wells Fargo & Company Cuts Globant (NYSE:GLOB) Price Target to $50.00

Globant (NYSE:GLOB) had its price objective trimmed by Wells Fargo & Company from $57.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the information technology services provider’s stock.

Several other equities analysts have also issued reports on GLOB. Mizuho dropped their target price on shares of Globant from $91.00 to $76.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Globant in a research report on Thursday, March 19th. Truist Financial initiated coverage on Globant in a research note on Tuesday, January 6th. They issued a “hold” rating and a $72.00 price objective on the stock. UBS Group restated a “neutral” rating and set a $75.00 target price on shares of Globant in a research report on Monday, January 19th. Finally, William Blair reaffirmed an “outperform” rating on shares of Globant in a research note on Wednesday, December 31st. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Globant currently has a consensus rating of “Hold” and an average price target of $80.80.

Globant Stock Performance

NYSE:GLOB opened at $44.49 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.64 and a current ratio of 1.64. Globant has a fifty-two week low of $40.76 and a fifty-two week high of $142.24. The company has a 50 day simple moving average of $53.09 and a two-hundred day simple moving average of $59.29. The company has a market capitalization of $1.95 billion, a PE ratio of 19.43, a P/E/G ratio of 1.61 and a beta of 1.22.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 26th. The information technology services provider reported $1.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.54. Globant had a net margin of 4.19% and a return on equity of 9.98%. The firm had revenue of $612.47 million for the quarter, compared to the consensus estimate of $605.61 million. During the same quarter in the previous year, the company earned $1.75 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Globant has set its Q1 2026 guidance at 1.440-1.540 EPS and its FY 2026 guidance at 6.100-6.500 EPS. Research analysts anticipate that Globant will post 5.73 earnings per share for the current year.

Institutional Trading of Globant

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in Globant by 352.0% during the third quarter. Geneos Wealth Management Inc. now owns 452 shares of the information technology services provider’s stock worth $26,000 after buying an additional 352 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Globant by 65.1% during the fourth quarter. Signaturefd LLC now owns 482 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 190 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Globant by 473.3% during the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 407 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Globant by 561.2% during the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 578 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Globant by 34.3% during the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock worth $47,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

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.