Solid Start to the Year But Need to Keep Chipping Away Given Macro Backdrop

研报英文原文证据摘录

Solid Start to the Year But Need to Keep Chipping Away Given Macro Backdrop

Company Report

May 15, 2026 Globant SA (GLOB)

Rating: Solid Start to the Year But Need to Keep Chipping Away GivenOUTPERFORM Macro BackdropPrice:

$34.08

12-Month Price Target: GLOB reported its FY1Q26 results featuring beats across the board with 2Q

$54.00 (from $61.00) guidance coming in-line with Street expectations as the company continues to

navigate an increasingly complex macro backdrop bringing greater concerns around

the comeback in discretionary spending with clients remaining cautious aboutAnalysts

making large investments in this backdrop. We maintain our OUTPERFORM ratingSteven Wahrhaftig

(212) 931-7059 while lowering our price target from $61 to $54 reflecting an 8x 2027E P/E

steven.wahrhaftig@wedbush.com multiple which is in line with its IT Services peer comps.

Dan Ives Total revenue came in at $607.1 million above the Street’s estimate of $601.7(212) 344-2073

Dan.Ives@wedbush.com million as the AI studios strategy gains traction across its customer base given the AI

model independence and token sovereignty of its model creating greater customer

flexibility for each enterprise’s use cases. The company’s AI Pods strategy, which

Company Information remains a key focal point for the bulls, generated $32.8 million above the prior

Market Cap (M) $1,414 quarter of $20.4 million with 40% of its top 20 customers incorporating AI PodsEnterprise Value (M) $1,631

Shares Outst (M) 42.4 (30% in prior period) with a solid pipeline of $352 million (prior period of $283

52-Week Range $32.50 - $133.36 million) representing as the company looks to move become an AI-native tech

Cash/sh $0.39 services firm. Globant is gaining incremental share with its digital studios through