Globant price target lowered to $220 from $272 at KeyBanc

KeyBanc analyst Thomas Blakey lowered the firm’s price target on Globant to $220 from $272 and keeps an Overweight rating on the shares following in-line Q1 earnings results and a “slightly lower top-line guide.” While bookings momentum and organic growth accelerated, the firm lowered its price target due to “F/X-related headwinds tied almost entirely to Mexican and Columbian peso strength.”