Needham analyst Mayank Tandon maintains $Globant (GLOB.US)$ with a buy rating, and adjusts the target price from $245 to $265.
According to TipRanks data, the analyst has a success rate of 47.1% and a total average return of 3.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Globant (GLOB.US)$'s main analysts recently are as follows:
The company exhibited a sturdy organic FX-neutral growth of 9% year-over-year, which is indicative of its expanding market share and the signing of new contracts. With most of its regional and vertical markets experiencing sequential growth, the overall demand recovery is becoming more widespread. This trend is promising for the fiscal year 2025, with the company's management forecasting a slight enhancement in organic growth for the next year.
The relative growth outperformance of Globant continues, and this has been reflected in its share pricing. The company's outsized client performance, potential in the Middle East, and positive trends in select verticals and artificial intelligence are promising. However, the recovery is still characterized by its inconsistency.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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