TD Cowen lowered the firm’s price target on Globant (GLOB) to $125 from $160 and keeps a Buy rating on the shares. The firm said the guidance cut was broadly expected, but this was even more pronounced as late Q1 volatility in Latin America and business to business verticals drove the decrease.
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Read More on GLOB:
- Strategic Adjustments and AI-Powered Model Drive Buy Rating for Globant SA Despite Short-Term Challenges
- Globant downgraded to Neutral at Goldman following miss and lower report
- Globant downgraded to Neutral from Buy at Goldman Sachs
- Globant SA: Buy Rating Maintained Amid Short-Term Challenges and Attractive Risk-Reward Scenario
- Globant downgraded to Neutral from Overweight at Piper Sandler