Globant SA

GLOB · NYSE

$41.65+$1.51 (+3.76%)TodayMarket closed · Oct 20, 5:45 PM ET

Prev close $40.14

GLOB analyst rating

HoldConsensus of 17 analysts over the last 12 months. 35% rate it a buy.

Strong buy0
Buy6
Hold11
Underperform0
Sell0

12-month price target · 23 analysts

Average $52.86 (+26.9% upside)

Low: $33.33
Now: $41.65
High: $110.94

Upgrades and downgrades

The latest rating actions, newest first

GLOB analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 13, 2026	Maintains	Equal-Weight	$42.00 → $39.00	49%
Mizuho	Oct 6, 2026	Maintains	Outperform	$59.00 → $51.00	46%
UBS	Aug 14, 2026	Maintains	Neutral	$50.00 → $43.00	32%
Truist Securities	Aug 14, 2026	Maintains	Hold	$44.00 → $38.00	41%
JP Morgan	Aug 14, 2026	Maintains	Neutral	$47.00 → $44.00	55%
TD Cowen	Aug 14, 2026	Maintains	Buy	$47.00 → $45.00	85%
Susquehanna	Aug 14, 2026	Maintains	Positive	$78.00 → $70.00	42%
Guggenheim	Aug 14, 2026	Maintains	Buy	$55.00 → $50.00	26%
Wedbush	Aug 14, 2026	Downgrade	Outperform → Neutral	$54.00 → $37.00	63%
Goldman Sachs	Aug 14, 2026	Maintains	Neutral	$60.00 → $52.00	54%

The case for and against

Updated Oct 18, 2026

Bull case

Globant is well positioned to benefit from its AI-native shift, with Glob.AI ARR reaching $52.8 million in June, up about 60% quarter over quarter, and management now expecting to exit 2026 above $110 million versus a prior $60 million to $100 million range. Its AI Pods are already deployed with 45% of top-20 accounts and a $436.8 million pipeline, while the offering delivers roughly 30% higher productivity and about 10 points higher gross margin than traditional delivery. Despite near-term noise from FX, slower decision cycles, and geographic softness, revenue was $614.4 million, free cash flow hit $12.6 million, and revenue per head rose 9.7% year over year, supporting the view that margin expansion and cash generation can improve as the model transition scales.

Bear case

Globant is facing a deteriorating fundamental backdrop as FY26 growth was cut to -1.8% to -1.0% on constant currency terms, with 3Q revenue guided to $607 million to $615 million and margins pressured by Middle East conflict-related deal delays, softer discretionary spending, and LatAm FX headwinds. Its legacy time-and-materials model is being disrupted by AI repricing, while AI Pods ARR of $52.8 million and a roughly $436 million pipeline remain too small to offset faster erosion in the core business, leaving a risk that reported growth is increasingly propped up by FX rather than organic demand. The company also faces concentration risk, with its top customer contributing over 8% of FY24 revenue and the top 10 customers about 30%, while net debt widened to $253.1 million despite record 1H26 free cash flow of $48.7 million.

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