Needham & Company LLC Reiterates Buy Rating for Globant (NYSE:GLOB)

Globant (NYSE:GLOB)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $60.00 target price on the information technology services provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 35.66% from the stock’s previous close.

Several other analysts have also recently commented on the company. Guggenheim lowered their target price on Globant from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. UBS Group restated a “neutral” rating and set a $75.00 price objective on shares of Globant in a research note on Monday, January 19th. Mizuho decreased their target price on shares of Globant from $91.00 to $76.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Truist Financial began coverage on shares of Globant in a research note on Tuesday, January 6th. They set a “hold” rating and a $72.00 target price on the stock. Finally, Canaccord Genuity Group dropped their price target on shares of Globant from $70.00 to $50.00 and set a “hold” rating on the stock in a research report on Friday, February 27th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.27.

Globant Trading Down 0.9%

Shares of NYSE:GLOB opened at $44.23 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $56.35 and its 200 day moving average price is $60.19. The company has a market cap of $1.94 billion, a PE ratio of 19.31, a P/E/G ratio of 1.62 and a beta of 1.21. Globant has a fifty-two week low of $40.76 and a fifty-two week high of $142.24.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 26th. The information technology services provider reported $1.54 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $605.61 million. During the same quarter in the prior year, the firm earned $1.75 EPS. Globant’s quarterly revenue 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. Sell-side analysts anticipate that Globant will post 5.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 197 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake 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 valued at $26,000 after purchasing an additional 352 shares during the last quarter. Signaturefd LLC lifted its stake in 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 purchasing an additional 190 shares during the last quarter. Larson Financial Group LLC grew its position in Globant by 561.2% in the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock worth $45,000 after buying an additional 578 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Globant by 34.3% in the fourth quarter. GAMMA Investing LLC now owns 712 shares of the information technology services provider’s stock worth $47,000 after buying an additional 182 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.