Globant price target raised to $235 from $220 at KeyBanc

KeyBanc analyst Thomas Blakey raised the firm’s price target on Globant to $235 from $220 and keeps an Overweight rating on the shares. The firm said the company had a “solid,” in-line Q2 report and essentially in-line Q3 and 2024 guidance with a slight increase to EBIT margins relative to the Street for 2024. Further, Globant continues to hire, increasing staff quarter-over-quarter in Q2 and plans to continue sequential increases in 2024 to match current strong demand, the analyst tells investors in a research note.