Globant SA
GLOB: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$986.00 | Vwrqhjt | Dxpjmtjys |
Globant Earnings: Continues to Outperform Peers; Shares Fairly Valued
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.