Globant (GLOB) shares fell over 15% in recent Friday trading after JPMorgan downgraded the stock to neutral from buy and adjusted its price target to $78 per share from $35 following Q2 financial results.
Deutsche Bank maintained its hold rating on the stock and cut its price target to $74 per share from $87.
Globant posted a Q2 earnings beat on late Thursday. The company expects Q3 adjusted EPS of at least $1.53 on revenue of at least $615 million. The FactSet consensus is EPS of $1.54 on revenue of $619 million.
The company expects fiscal 2025 adjusted EPS of at least $6.12 and revenue of at least $2.45 billion, compared with prior guidance of at least $6.10 and $2.46 billion.
Analysts surveyed by FactSet expect EPS of $6.15 and revenue of $2.47 billion.
Price: 67.00, Change: -11.12, Percent Change: -14.23
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