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:
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