Globant price target lowered to $125 from $150 at Guggenheim

Guggenheim lowered the firm’s price target on Globant (GLOB) to $125 from $150 and keeps a Buy rating on the shares. Globant’s negative outlook anticipated for calendar year 2025 reinforces the level of demand uncertainty faced by the industry, the analyst says. Ongoing deal and project ramp delays drove management to cut its expected calendar 2025 revenue growth to “at least” 2% year-over-year in constant currency, or flat organically, and while the magnitude of the cut is “disappointing,” the firm remains Buy-rated over the medium term as it thinks the risk/reward “appears positively skewed at these levels,” the analyst tells investors.