Susquehanna lowered the firm’s price target on Globant (GLOB) to $133 from $160 and keeps a Positive rating on the shares. The firm updated its model following Q1 results where the company cut the full-year guidance as some of the previously announced deals seem to be standing up more slowly than hoped, suggesting the challenges the company faces in Q1 may persist. Apart from the weakness in LatAm, it seems a common theme is soft discretionary spend among the company’s consumer-facing clients.
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Read More on GLOB:
- Globant price target lowered to $125 from $150 at Guggenheim
- Globant price target lowered to $125 from $160 at TD Cowen
- 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
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