Globant downgraded to Hold from Buy at Jefferies

Jefferies downgraded Globant (GLOB) to Hold from Buy with a price target of $61, down from $80. The company’s organic growth has lagged peers due to its greater exposure to underperforming regions and verticals, the analyst tells investors in a research note. The firm says that with industry trends unlikely to materially improve next year, and a new business model being introduced, Globant’s return to normalized growth will take time. It cites lingering revenue growth challenges in 2026 for the downgrade.