Needham analyst Mayank Tandon has maintained their bullish stance on GLOB stock, giving a Buy rating today.
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Mayank Tandon has given his Buy rating due to a combination of factors, despite the recent challenges faced by Globant SA. The company’s first-quarter results fell short of expectations due to a widespread reduction in demand, with clients in Latin America and North America delaying projects and reducing spending amid global trade uncertainties.
Although the near-term outlook appears weak, with management lowering guidance for the second quarter and fiscal year 2025, Tandon sees potential for value-oriented investors. The stock’s significant drop in value, combined with a more conservative earnings estimate, presents an attractive risk-reward scenario. Consequently, while the target price has been adjusted to $115 to account for these short-term challenges, the Buy rating is maintained.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $125.00 price target.