Globant price target lowered to $80 from $85 at Needham

Needham lowered the firm’s price target on Globant (GLOB) to $80 from $85 but keeps a Buy rating on the shares. The company’s Q3 results and Q4 and FY25 outlook were largely in line with expectations as demand across the IT services industry remaining challenged, even though there are some signs of demand stabilization, the analyst tells investors in a research note. Given the healthy pipeline and bookings activity, the management expressed confidence that growth will improve gradually in FY26, especially as AI projects move from proof of concept to full production mode, the firm added.