Globant Launches $125M Share Repurchase Program, Boosting Stock
Globant S.A. (NYSE:GLOB) has authorized a new share repurchase program, worth up to $125 million. This program commences in the fourth quarter of 2025 and continues until the fourth quarter of 2026. The news has been positively received by investors, with GLOB stock price rising by 1.98% to $58.01 in after-hours trading.
Under the new program, Globant approves up to $50 million in repurchases per quarter. The company can execute these buybacks through open market transactions and accelerated share repurchases. However, Globant can pause or halt the program at any time, based on market conditions and other factors.
Martin Migoya, the current chairman and CEO of Globant S.A., will oversee this share repurchase initiative. This decision signifies the company's confidence in its financial stability and future prospects.
The new share repurchase program, valued at up to $125 million, underscores Globant's dedication to returning capital to shareholders. The company's stock price reacted favorably to the news, demonstrating investor confidence in the tech giant's strategic direction.
