Globant price target lowered to $198 from $204 at Piper Sandler

Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on Globant to $198 from $204 and keeps an Overweight rating on the shares. The analyst is cautious on Globant into earnings, citing pressured demand, delays in decision making and client-specific dynamics. Piper further lowered estimates given potential headwinds from two of Globant’s largest customers: Disney and Google.