Globant (NYSE:GLOB) shares are trading lower on Friday.
On Thursday, the company reported mixed second quarter results on Thursday.
Today, Needham analyst Mayank Tandon lowered the price forecast on the company from $50 to $45, while maintaining a Buy rating.
Analyst View The analyst stated that Globant’s quarterly revenue modestly exceeded expectations, while EPS was pressured by forex headwinds.
The third quarter guidance and full year outlook cut, reflects weakness in New Markets, softer travel demand and longer decision cycles.
