Mizuho Cuts Globant (NYSE:GLOB) Price Target to $51.00

Key Points

• Mizuho lowered Globant’s price target from $59 to $51 while maintaining an “outperform” rating, implying 42.86% upside from the prior close.
• Analyst sentiment is mixed: Globant has an overall “hold” consensus rating and an average price target of $44.81, with five Buy, eleven Hold, and two Sell ratings.
• Globant’s latest quarterly earnings missed EPS expectations ($1.40 versus $1.50), although revenue slightly exceeded estimates; shares opened at $35.70 and were recently up 1.7%.

Globant (NYSE:GLOB - Get Free Report) had its price objective cut by analysts at Mizuho from $59.00 to $51.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "outperform" rating on the information technology services provider's stock. Mizuho's price target would indicate a potential upside of 42.86% from the company's previous close.

GLOB has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $33.00 target price on shares of Globant in a research report on Friday, July 10th. William Blair lowered shares of Globant from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Truist Financial decreased their price objective on shares of Globant from $44.00 to $38.00 and set a "hold" rating for the company in a report on Friday, August 14th. Citigroup dropped their target price on Globant from $42.00 to $37.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Finally, Itau BBA Securities downgraded Globant from an "outperform" rating to a "market perform" rating and set a $39.00 target price for the company. in a research report on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Globant presently has an average rating of "Hold" and a consensus target price of $44.81.

Globant Stock Up 1.7%

Shares of Globant stock opened at $35.70 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. Globant has a 1-year low of $27.56 and a 1-year high of $72.10. The business's fifty day moving average price is $37.67 and its two-hundred day moving average price is $38.35. The company has a market capitalization of $1.57 billion, a P/E ratio of 14.00, a PEG ratio of 4.48 and a beta of 0.98.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results 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 business had revenue of $614.42 million during the quarter, compared to the consensus estimate of $612.86 million. Globant had a return on equity of 9.28% and a net margin of 4.63%.The company's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $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 forecast that Globant will post 4.58 EPS for the current year.

Insider Transactions at Globant

In other news, CRO Fernando Matzkin sold 2,500 shares of Globant stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive owned 71,608 shares of the company's stock, valued at $2,864,320. The trade was a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Diego Tartara sold 6,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the sale, the chief technology officer owned 72,320 shares in the company, valued at $2,925,344. The trade was a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,500 shares of company stock valued at $585,400 in the last quarter. Insiders own 2.67% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in shares of Globant during the 2nd quarter valued at $342,000. Parkside Financial Bank & Trust raised its position in shares of Globant by 89.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,550 shares of the information technology services provider's stock worth $103,000 after purchasing an additional 1,680 shares during the period. VELA Investment Management LLC raised its position in shares of Globant by 43.4% during the second quarter. VELA Investment Management LLC now owns 48,900 shares of the information technology services provider's stock worth $1,415,000 after purchasing an additional 14,800 shares during the period. Corient Private Wealth LP lifted its holdings in shares of Globant by 148.5% during the second quarter. Corient Private Wealth LP now owns 12,929 shares of the information technology services provider's stock valued at $374,000 after purchasing an additional 7,726 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Globant by 45.0% during the second quarter. TD Waterhouse Canada Inc. now owns 3,485 shares of the information technology services provider's stock valued at $109,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

About Globant

Globant SA NYSE: GLOB is a digitally native technology services company that helps organizations develop, modernize and manage digital products and business operations. Its services include software product engineering, user experience and design, cloud transformation, data and analytics, artificial intelligence, enterprise platforms, cybersecurity and digital marketing.

The company works with clients across industries such as financial services, healthcare, media and entertainment, retail, travel and consumer products.

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