BofA warns Fed risks policy mistake with early rate cuts
Investing.com - Jefferies has lowered its price target on Globant S.A. (NYSE:GLOB) to $80.00 from $110.00 while maintaining a Buy rating on the stock. According to InvestingPro data, the stock is currently trading at $67.56, suggesting potential upside to Jefferies’ target. The broader analyst community maintains targets ranging from $74 to $240.
The price target reduction follows Globant’s second consecutive guidance downgrade, which has pushed the stock to trade more than three standard deviations below its historical average. InvestingPro data shows the stock has declined 67% over the past year, now trading near its 52-week low of $64.51.
Despite the near-term challenges, Jefferies continues to view Globant as a "high-quality asset worth owning" for investors with a long-term perspective.
The firm has adjusted its outlook for the technology services company, reducing its 2026 adjusted earnings per share estimate by 12% ($0.82) to $5.87.
Jefferies suggests the current price presents an opportunity for long-term investors, particularly for those who believe technology services will remain relevant and that Globant can successfully adapt to "an AI-first world."
In other recent news, Globant S.A. has seen several analyst firms adjust their price targets and ratings following the company’s latest earnings and guidance updates. UBS has lowered its price target for Globant to $75 from $120 while maintaining a Neutral rating, citing a significant decline in the company’s shares. Mizuho (NYSE:MFG) has also reduced its price target to $91 from $153, maintaining an Outperform rating, following Globant’s adjustment of its 2025 revenue growth guidance. Needham has decreased its price target to $85 from $115, retaining a Buy rating, due to weaker demand outlooks despite Globant’s second-quarter results slightly exceeding expectations. TD Cowen has adjusted its price target to $92 from $120, maintaining a Buy rating, after Globant’s second-quarter results prompted a revised outlook for the year’s second half. Goldman Sachs reiterated its Neutral rating and $105 price target, noting a modest reduction in revenue guidance linked to weaker demand in the market. These developments reflect ongoing challenges Globant faces, including slower deal closures and tempered spending from key clients.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.