Globant (NYSE:GLOB) Board of Directors Authorizes Share Repurchase Program

Globant (NYSE:GLOB) declared that its board has approved a share buyback program on Wednesday, October 1st, RTT News reports. The company plans to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have issued reports on GLOB. JPMorgan Chase & Co. lowered shares of Globant from an “overweight” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Friday, August 15th. The Goldman Sachs Group lowered their target price on shares of Globant from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, August 18th. Scotiabank upgraded shares of Globant from a “sector perform” rating to a “sector outperform” rating and set a $115.00 target price on the stock in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a report on Thursday, July 17th. They set a “hold” rating and a $87.00 price target for the company. Finally, Guggenheim reissued a “buy” rating and issued a $125.00 price objective on shares of Globant in a research note on Tuesday, June 10th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $139.47.

Globant Price Performance

Shares of NYSE:GLOB opened at $59.36 on Friday. Globant has a twelve month low of $54.36 and a twelve month high of $238.32. The stock’s 50 day moving average is $67.87 and its 200-day moving average is $92.32. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.50 and a beta of 1.17.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business had revenue of $614.18 million during the quarter, compared to analyst estimates of $612.66 million. During the same quarter in the previous year, the business posted $1.51 EPS. Globant’s quarterly 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. Sell-side analysts forecast that Globant will post 5.73 EPS for the current fiscal year.

Globant Company Profile

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.