An analyst at Susquehanna has revised the price target for Globant (GLOB, Financial), reducing it from $225 to $160. Despite this adjustment, the firm's shares maintain a Positive rating. This change is driven by a decline in visibility, leading to expectations of a slowdown in performance from the first quarter into the second quarter and potentially further.
The initial start to the year appeared satisfactory for Globant, but deteriorating outlook contributes to a more cautious forecast. As a result, projections have been adjusted to reflect anticipated weakening in the company's quarter-over-quarter performance going forward.
