Globant Analysts Slash Their Forecasts After Q1 Results

Financial Performance - Globant reported first-quarter earnings of $1.50 per share, missing the analyst consensus estimate of $1.58 per share [1] - Quarterly sales were $611.09 million, which also fell short of the analyst consensus estimate of $621.38 million [1] - The company issued second-quarter guidance below estimates and cut its FY25 guidance [1] Strategic Focus - The company emphasizes a strong focus on AI-related opportunities and assisting clients in transforming their businesses [2] - Globant's growth strategy integrates a client-centric vision with industry-specialized AI Studios and a subscription model [2] - The CEO highlighted the company's commitment to leading technological transformation through its AI Pods and the Globant Enterprise AI platform [2] Market Reaction - Following the earnings announcement, Globant shares gained 3.1%, trading at $104.67 [3] - Analysts adjusted their price targets for Globant after the earnings report, with Goldman Sachs lowering its target from $225 to $120 [8] - Mizuho maintained an Outperform rating but reduced its price target from $194 to $153 [8]