Globant SA

GLOB: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$587.00	Rjtbst	Lvlydklw

Globant Earnings: Continues to Outperform Peers; Shares Fairly Valued

Rob Hales

Aug 19, 2024

Globant delivered another set of strong quarterly results with revenue up 18% year over year. This compares favorably with key peers EPAM and Endava, which have been struggling to generate revenue growth in recent quarters. Shares rose 5% intraday despite results that were broadly in line with FactSet consensus, which we think reflects Globant’s confidence in its fiscal 2024 guidance in a tenuous macroeconomic environment. We’re maintaining our $201 fair value estimate. At current levels, the shares look fairly valued.

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