Key Points
- Globant CRO Fernando Matzkin sold 2,500 shares at an average price of $40, generating $100,000 and reducing his direct stake by 3.37% to 71,608 shares.
- Globant shares opened at $40.29, up 3.6%, while the company’s latest quarterly earnings missed analyst estimates: adjusted EPS was $1.40 versus expectations of $1.50, although revenue slightly exceeded forecasts.
- Analysts maintain a consensus “Hold” rating with an average price target of $46.38. Globant also authorized a $50 million share buyback, representing up to 2.9% of outstanding shares.
Globant S.A. (NYSE:GLOB - Get Free Report) CRO Fernando Matzkin sold 2,500 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive directly owned 71,608 shares of the company's stock, valued at $2,864,320. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Globant Trading Up 3.6%
Shares of NYSE GLOB opened at $40.29 on Friday. Globant S.A. has a 1 year low of $27.56 and a 1 year high of $72.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50-day moving average of $35.37 and a 200 day moving average of $40.05. The stock has a market cap of $1.77 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 2.51 and a beta of 0.98.
Globant (NYSE:GLOB - Get Free Report) last announced 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). Globant had a return on equity of 9.28% and a net margin of 4.63%.The business had revenue of $614.42 million during the quarter, compared to analysts' expectations of $612.86 million. During the same quarter last year, the company posted $1.53 EPS. Globant's revenue for the quarter 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. As a group, sell-side analysts expect that Globant S.A. will post 4.61 EPS for the current fiscal year.
Globant declared that its Board of Directors has initiated a share buyback plan on Monday, May 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.
Analysts Set New Price Targets
Several brokerages recently commented on GLOB. Susquehanna cut their price objective on shares of Globant from $78.00 to $70.00 and set a "positive" rating on the stock in a research report on Friday, August 14th. Zacks Research cut shares of Globant from a "hold" rating to a "strong sell" rating in a report on Monday, August 24th. Needham & Company LLC decreased their price objective 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. Deutsche Bank Aktiengesellschaft set a $33.00 target price on Globant in a research note on Friday, July 10th. Finally, Canaccord Genuity Group set a $35.00 price target on Globant in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Globant currently has a consensus rating of "Hold" and an average target price of $46.38.
Get Our Latest Research Report on Globant
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLOB. Allworth Financial LP boosted its holdings in Globant by 473.3% in the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 407 shares during the last quarter. Larson Financial Group LLC raised its stake in Globant by 561.2% during the 4th quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider's stock valued at $45,000 after buying an additional 578 shares during the last quarter. MidFirst Bank bought a new position in shares of Globant during the 4th quarter valued at $47,000. Essential Partners LLC bought a new position in shares of Globant during the 1st quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Globant by 872.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,274 shares of the information technology services provider's stock worth $59,000 after buying an additional 1,143 shares during the last quarter. Institutional investors own 91.60% of the company's stock.
Globant Company Profile
(
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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