1Q26 Growth Ahead, 2Q Brackets Street; FY26 View Affirmed & New $125M Buyback

研报英文原文证据摘录

1Q26 Growth Ahead, 2Q Brackets Street; FY26 View Affirmed & New $125M Buyback

Computer Services & IT Consulting

Globant

TD SECURITIES (USA) LLC EARNINGS UPDATE

May 15, 2026

Price: $34.08 (05/14/2026) 1Q26 Growth Ahead, 2Q Brackets Street; FY26

Price Target: $59.00 (Prior $72.00) View Affirmed & New $125M Buyback

BUY (1)

ESG SCORE: 62/100

Bryan C. Bergin, CFA THE TD COWEN INSIGHT

646 562 1369

Better 1Q revenue performance (1% ahead), with steady demand view to support a mostly

bryan.bergin@tdsecurities.com

affirmed FY26 guide with underlying momentum in its AI pod model are encouraging. Add

Jared Levine, CFA to that a new $125M share repo program (~8% mkt cap) amid depressed sentiment, and we

646 562 1431 anticipate some relief in shares. Relative growth performance still needs notable recovery, but

jared.levine@tdsecurities.com

trough performance seems to have materialized.

Gates Schwarzmann

646 562 1363 Stabilizing Print Was Needed & Delivered

gates.schwarzmann@tdsecurities.com

GLOB minimized surprises with a healthy revenue performance vs. guide/Street and stable

Key Data overall view on demand that supported an affirmation of FY26 outlook. Its 2Q guide bracketed

Symbol NYSE: GLOB consensus revenue and marks the potential return to y/y growth at the upper end of guidance,

Beta: 1.04 suggesting 1Q marked the trough. While it acknowledged continued uncertain macro and

52-Week Range: $132.84-$32.75 acute variability in the Middle East, it hasn't seen deterioration. This will be key to monitor as

Market Cap: $1.5B the situation remains fluid, but continued growth here is happening alongside an improvement

Net Debt (MM): $221.5 in large client performance, which was a key culprit in top line pressures.

Cash/Share: $5.80