Bryan Bergin, an analyst from TD Cowen, maintained the Buy rating on Globant SA. The associated price target was lowered to $92.00.
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Bryan Bergin has given his Buy rating due to a combination of factors influencing Globant SA’s current and future performance. Despite facing some client-specific pressures that have led to a downward revision in the second half outlook, Globant’s strong pipeline growth and focus on business optimization are seen as positive indicators. The company’s transition to a consumption-based delivery model is also viewed favorably, with early positive reception from clients.
While there are challenges due to macroeconomic pressures and slow deal closures, Bergin believes these are more cyclical than structural. The valuation suggests that the market has already priced in the current challenges, and the potential for recovery is seen as promising. The company’s efforts to stabilize sentiment through consistent execution and its innovative approach with AI Pods are expected to support growth in the longer term, justifying the Buy rating.