Globant price target lowered to $154 from $230 at Piper Sandler

Piper Sandler lowered the firm’s price target on Globant (GLOB) to $154 from $230 and keeps an Overweight rating on the shares. The firm cut estimates across its IT services coverage. Piepr believes the Q1 results will likely be in-line, but sees greater risk for second half numbers. With shifting tariff policies, the recent 90-day extension and ongoing trade war with China, Piper expects enterprise tech spend to be less favorable than anticipated, and decision making for new project starts to slow, the analyst tells investors in a research note.