Globant (NYSE:GLOB) Price Target Lowered to $38.00 at Truist Financial

Globant (NYSE:GLOB) had its price target reduced by Truist Financial from $44.00 to $38.00 in a report published on Friday,Benzinga reports. They currently have a hold rating on the information technology services provider’s stock.

A number of other analysts also recently issued reports on GLOB. UBS Group reduced their price objective on Globant from $50.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $33.00 target price on Globant in a research report on Friday, July 10th. Wells Fargo & Company reduced their price target on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. William Blair downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Finally, Guggenheim decreased their price target on shares of Globant from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Globant presently has a consensus rating of “Hold” and a consensus target price of $46.38.

Globant Stock Down 8.9%

Shares of GLOB stock opened at $37.35 on Friday. The company’s fifty day simple moving average is $33.79 and its two-hundred day simple moving average is $42.34. Globant has a 52 week low of $27.56 and a 52 week high of $72.10. The stock has a market cap of $1.64 billion, a P/E ratio of 14.65, a PEG ratio of 1.55 and a beta of 1.02. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.16.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). The firm had revenue of $614.42 million for the quarter, compared to analysts’ expectations of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.25%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous 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. Analysts predict that Globant will post 4.89 EPS for the current fiscal year.

Globant announced that its board has initiated a stock repurchase plan on Monday, May 18th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Globant

Large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Globant during the 1st quarter valued at $447,000. Goldman Sachs Group Inc. boosted its stake in Globant by 69.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock worth $8,739,000 after buying an additional 30,386 shares during the period. First Trust Advisors LP boosted its stake in Globant by 61.9% during the second quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock worth $9,291,000 after buying an additional 39,122 shares during the period. Marshall Wace LLP increased its position in Globant by 823.2% during the second quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock valued at $9,619,000 after acquiring an additional 94,424 shares during the last quarter. Finally, Amundi increased its position in Globant by 192.7% during the second quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock valued at $727,000 after acquiring an additional 5,247 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant News Roundup

Here are the key news stories impacting Globant this week:

• Positive Sentiment: Globant reported second-quarter revenue of approximately $614.4 million, slightly above analysts’ expectations. The company also highlighted strong momentum in its Glob.AI business, with annual recurring revenue reaching $52.8 million, up 61% sequentially, and management expects Glob.AI ARR to exceed $110 million by year-end. Globant Reports 2026 Second Quarter Financial Results
• Positive Sentiment: Operating cash flow increased to $30.2 million, while total liabilities declined, indicating continued cash generation and a relatively solid balance sheet. TD Cowen and Guggenheim maintained “buy” ratings, with revised targets of $45 and $50, respectively. Analyst rating updates
• Neutral Sentiment: Despite the near-term pressure, several analysts’ revised targets remain above the stock’s recent trading level. JPMorgan and Goldman Sachs maintained neutral ratings with targets of $44 and $52, while Truist assigned a hold rating and a $38 target, signaling limited near-term upside in its view. What’s going on with Globant stock on Friday?
• Negative Sentiment: Second-quarter adjusted EPS was $1.40, below the $1.50 consensus estimate and down from $1.53 a year earlier. Revenue was essentially flat year over year, while gross profit declined 4.3%, reinforcing concerns about margin pressure and weak growth. Globant Q2 Earnings Lag Estimates
• Negative Sentiment: Third-quarter revenue guidance of $607 million to $615 million and EPS guidance of $1.43 were below consensus estimates of $626.2 million and $1.52. Full-year revenue guidance also trailed expectations, prompting investors to reassess Globant’s growth outlook. Globant: The Transition To AI As A Service Will Take Time
• Negative Sentiment: Goldman Sachs, Guggenheim, TD Cowen, JPMorgan and Truist all lowered their price targets, reflecting reduced confidence in the pace of recovery. The market is also concerned that converting Globant’s AI investments into significant revenue will take time. Stocks to Watch Heading Into Friday

About Globant

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.