In a report released yesterday, Bryan Bergin from TD Cowen maintained a Buy rating on Globant SA, with a price target of $86.00.
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Bryan Bergin has given his Buy rating due to a combination of factors that suggest potential stabilization and growth for Globant SA. Despite some challenges, such as a reduction in headcount and a contraction in revenue for the fourth quarter, the company has shown signs of stabilization with an affirmed revenue guide and stable workforce levels. The commentary on demand, particularly with scaling in artificial intelligence, indicates a promising outlook for 2026.
Bergin notes that while the third quarter showed a slight dip in earnings per share due to a higher tax rate, the overall revenue and adjusted operating margin exceeded expectations. The company’s strong pipeline, with significant year-over-year growth, and improved conversion trends after a period of depression, further support the positive outlook. Although there are still pressures from large clients, the expectation is for a better performance in 2026. The focus on cost management and a new share repurchase program also contribute to the Buy rating, as these measures are expected to protect earnings and free cash flow.
In another report released on November 1, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $69.00 price target.