Needham analyst Mayank Tandon lowered the price target on Globant S.A. (NYSE: GLOB) to $115.00 (from $130.00) while maintaining a Buy rating.

The analyst comments "GLOB posted 1Q results which came in below expectations due to a broad-based slowdown in demand. Clients across multiple verticals, particularly in LATAM and NA, delayed projects and moderated spending levels because of the uncertain global trade environment. Management expects these headwinds to persist NT and, as such, provided a weak 2Q guide and lowered the FY25 outlook. While the results and outlook are disappointing, with the shares indicated down ~25%+ after-hours and expected to open at a FY26 P/E multiple of ~15x and estimates re-set lower to reflect a more conservative view for the rest of FY25, we believe the risk-reward is attractive for value-oriented investors. As such, we maintain our BUY rating but lower our target to $115 to reflect the NT headwinds."