Globant Shares Gap Down After JPMorgan Cuts Price Target from $75 to $68
JPMorgan lowered its price target on Globant from $75 to $68 with a neutral rating, triggering a gap-down open at $45.34 versus a $49.46 close. Globant will report Q4 results on February 26, with consensus estimates of $1.54 EPS (-12% YoY) and $605.8 million revenues (-5.7% YoY).
1. Analyst Downgrade Details
JPMorgan Chase lowered its price target from $75 to $68 and maintained a neutral rating on Globant, indicating tempered expectations for the company’s growth trajectory.
2. Stock Price Reaction
Shares of Globant gapped down at the opening bell, sliding from a $49.46 close to $45.34, representing an approximate 8.3% drop.
3. Upcoming Earnings Estimates
Globant is scheduled to report Q4 earnings on February 26, with analysts forecasting $1.54 EPS, a 12% year-over-year decline, and $605.8 million in revenues, down 5.7% from the prior year.