Globant (NYSE:GLOB) Downgraded to "Neutral" Rating by JPMorgan Chase & Co.

Key Points

• Globant's rating has been downgraded from "overweight" to "neutral" by JPMorgan Chase & Co., with a new price target of $78.00, indicating a minimal potential upside from the company's previous close.
• Several other analysts have also recently adjusted their ratings, with Goldman Sachs lowering its price objective significantly from $225.00 to $120.00 while maintaining a "neutral" rating.
• Despite the downgrades, the stock has a consensus rating of "Moderate Buy" among analysts, with an average price target of $153.56 based on various assessments.

Globant (NYSE:GLOB - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $78.00 target price on the information technology services provider's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 13.51% from the stock's previous close.

A number of other brokerages have also commented on GLOB. Guggenheim restated a "buy" rating and issued a $125.00 price target on shares of Globant in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on Globant in a report on Thursday, July 17th. They issued a "hold" rating and a $87.00 price target on the stock. Canaccord Genuity Group restated a "hold" rating and issued a $97.00 price target (down from $165.00) on shares of Globant in a report on Thursday, June 26th. Wall Street Zen upgraded Globant from a "sell" rating to a "hold" rating in a report on Monday, May 19th. Finally, Susquehanna dropped their target price on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday, April 23rd. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.13.

Globant Trading Up 0.6%

NYSE:GLOB traded up $0.4370 on Friday, reaching $68.7170. The company's stock had a trading volume of 1,713,453 shares, compared to its average volume of 1,160,318. Globant has a 1-year low of $64.51 and a 1-year high of $238.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $3.03 billion, a PE ratio of 27.93, a PEG ratio of 2.73 and a beta of 1.16. The business's 50-day moving average price is $86.95 and its two-hundred day moving average price is $117.77.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. Globant had a return on equity of 10.97% and a net margin of 4.44%.The firm had revenue of $614.18 million during the quarter, compared to analysts' expectations of $612.66 million. During the same period in the previous year, the firm earned $1.51 earnings per share. The company's revenue was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities research analysts anticipate that Globant will post 5.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globant

Several institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its position in Globant by 199.1% during the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider's stock worth $256,819,000 after buying an additional 1,881,940 shares in the last quarter. Alliancebernstein L.P. grew its position in Globant by 6,875.8% during the second quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider's stock worth $84,413,000 after buying an additional 915,924 shares in the last quarter. Royal Bank of Canada grew its position in Globant by 293.5% during the first quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider's stock worth $117,716,000 after buying an additional 745,848 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Globant by 209.0% in the 1st quarter. Westfield Capital Management Co. LP now owns 820,445 shares of the information technology services provider's stock valued at $96,583,000 after acquiring an additional 554,938 shares during the last quarter. Finally, Nuveen LLC bought a new position in Globant during the 1st quarter worth $58,163,000. Institutional investors and hedge funds own 91.60% of the company's stock.

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.