Globant (NYSE:GLOB) Given New $90.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has lowered its price target for Globant from $105.00 to $90.00, maintaining a "neutral" rating on the stock, which suggests an upside potential of 51.44% from its current price.
• Several analysts have varying ratings on Globant, with a consensus average price target of $138.47 and a mix of buy, hold, and sell ratings from different firms.
• Globant has authorized a $125.00 million share repurchase program, indicating that the board believes its shares are currently undervalued.

Globant (NYSE:GLOB - Get Free Report) had its target price cut by research analysts at The Goldman Sachs Group from $105.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the information technology services provider's stock. The Goldman Sachs Group's price target suggests a potential upside of 51.44% from the stock's current price.

Several other analysts have also recently issued reports on GLOB. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a report on Monday, July 21st. Needham & Company LLC lowered their price target on shares of Globant from $115.00 to $85.00 and set a "buy" rating on the stock in a report on Friday, August 15th. UBS Group decreased their price objective on shares of Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, August 20th. JPMorgan Chase & Co. downgraded Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price objective for the company. in a research report on Friday, August 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $138.47.

Globant Price Performance

Shares of NYSE GLOB traded up $0.02 during midday trading on Thursday, hitting $59.43. The stock had a trading volume of 398,441 shares, compared to its average volume of 1,218,502. Globant has a 1 year low of $54.36 and a 1 year high of $238.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $65.32 and a 200-day simple moving average of $90.32. The company has a market capitalization of $2.62 billion, a PE ratio of 24.15, a P/E/G ratio of 2.59 and a beta of 1.17.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.01. The firm had revenue of $614.18 million for the quarter, compared to analysts' expectations of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.51 earnings per share. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, sell-side analysts expect that Globant will post 5.73 EPS for the current fiscal year.

Globant declared that its board has authorized a share repurchase program on Wednesday, October 1st that permits the company to buyback $125.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Globant

Several large investors have recently made changes to their positions in GLOB. Osaic Holdings Inc. raised its holdings in shares of Globant by 61.5% in the second quarter. Osaic Holdings Inc. now owns 1,163 shares of the information technology services provider's stock worth $114,000 after buying an additional 443 shares during the period. State of Wyoming raised its position in shares of Globant by 78.9% during the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider's stock valued at $80,000 after buying an additional 389 shares during the period. Vident Advisory LLC purchased a new stake in shares of Globant in the 2nd quarter valued at $252,000. Tidal Investments LLC purchased a new position in Globant in the second quarter valued at $252,000. Finally, HRT Financial LP grew its stake in Globant by 223.7% during the 2nd quarter. HRT Financial LP now owns 34,662 shares of the information technology services provider's stock worth $3,148,000 after buying an additional 23,955 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Globant

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.

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