Globant SA (GLOB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mayank Tandon from Needham reiterated a Buy rating on the stock and has a $220.00 price target.
Mayank Tandon has given his Buy rating due to a combination of factors influencing Globant SA’s stock. The company is experiencing some short-term growth challenges, mainly due to economic uncertainties that are causing delays in client decision-making, especially in Latin America. Additionally, there has been a shift in revenue timing with their largest client, which has impacted immediate growth prospects.
Despite these short-term pressures, Globant SA is projected to achieve approximately 9.5% organic growth in fiscal year 2025, which is considered industry-leading. This growth is expected to accelerate further throughout the year. Furthermore, the stock’s valuation is currently near historical lows following a recent significant sell-off, making it an attractive investment opportunity. These factors collectively support the Buy rating and a target price of $220.
In another report released on February 26, Jefferies also maintained a Buy rating on the stock with a $210.00 price target.