Bryan Bergin, an analyst from TD Cowen, maintained the Buy rating on Globant SA. The associated price target remains the same with $92.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Bryan Bergin has given his Buy rating due to a combination of factors that suggest potential stability and growth for Globant SA. The company’s management has expressed confidence in their fiscal year 2025 guidance, supported by recent healthy performance and improvements in client engagement. Despite the challenges faced in the first half of the year, there is a perception of stability and a positive outlook on client demand dynamics, which are crucial for future growth.
Additionally, Globant’s strategic reorganization and AI pod model are seen as positive steps towards adapting to the evolving market landscape. While the broader services sector has been under pressure, Bergin believes that the current market sentiment may be overly pessimistic and that Globant’s fundamentals could improve, leading to a recovery in growth. Investors are expected to monitor sector performance closely, but the company’s current trajectory provides a potentially steady starting point for future expansion.