Globant S.A. (NYSE:GLOB - Get Free Report) insider Wanda Weigert sold 6,000 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total value of $242,700.00. Following the sale, the insider owned 64,046 shares in the company, valued at $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Globant Stock Performance
Shares of GLOB stock opened at $40.58 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. Globant S.A. has a 12-month low of $27.56 and a 12-month high of $72.10. The business's 50 day moving average is $34.50 and its two-hundred day moving average is $40.58. The company has a market capitalization of $1.78 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.57 and a beta of 1.02.
Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.10). Globant had a return on equity of 9.28% and a net margin of 4.63%.The business had revenue of $614.42 million for the quarter, compared to analyst estimates of $612.86 million. During the same period in the previous year, the company earned $1.53 earnings per share. The company's quarterly revenue was up .0% compared to the same quarter last year. 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 expect that Globant S.A. will post 4.65 EPS for the current fiscal year.
Globant declared that its board has initiated a stock buyback plan on Monday, May 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Institutional Investors Weigh In On Globant
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Globant during the second quarter worth approximately $128,713,000. Pzena Investment Management LLC purchased a new stake in Globant in the 2nd quarter valued at $111,700,000. Wellington Management Group LLP increased its stake in shares of Globant by 350.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,706,156 shares of the information technology services provider's stock worth $49,376,000 after acquiring an additional 1,327,268 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Globant by 78.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider's stock worth $85,516,000 after acquiring an additional 1,299,353 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Globant by 6,875.8% during the 2nd quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider's stock worth $84,413,000 after acquiring an additional 915,924 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on GLOB shares. TD Cowen reduced their price target on shares of Globant from $47.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, August 14th. William Blair cut Globant from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. lowered their price target on Globant from $47.00 to $44.00 and set a "neutral" rating on the stock in a research note on Friday, August 14th. Truist Financial reduced their price objective on Globant from $44.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, August 14th. Finally, Needham & Company LLC dropped their target price on shares of Globant from $50.00 to $45.00 and set a "buy" rating for the company in a report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.38.
View Our Latest Analysis on GLOB
About Globant
(
Get Free Report)
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.
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