7/103 sources · 3 publishersUpdated Nov 12, 01:36 UTC
Guggenheim downgrades Globant to Neutral and removes $50 price target
Guggenheim analyst Jonathan Lee changed his rating on Globant S.A. from Buy to Neutral, citing soft bookings, weakness in the Middle East and concerns about a large gaming client. The firm also removed its $50 price target and warned of a possible sequential decline into Q1 2027. The downgrade prompted the stock to fall more than 5% on the day of the announcement.
Why it matters
The removal of the $50 price target and the neutral rating may pressure Globant’s share price, as investors react to the reduced growth outlook. Guggenheim said it will revisit the rating if bookings improve or discretionary spending recovers.
Key facts
- 1Guggenheim downgraded Globant to Neutral from Buy. investing.com
- 2The analyst removed his $50 price target and has not set a replacement. investing.com
- 3The downgrade was attributed to soft bookings, Middle East weakness and a potential ramp‑down at a large gaming client. investing.com
- 4Guggenheim expects a possible sequential decline into the first quarter of 2027. investing.com
- 5Globant’s shares fell more than 5% on Wednesday following the downgrade. finance.yahoo.com
- 6At the time of the downgrade the stock traded at a P/E of 18.74 and a market cap of $2.11 billion. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.