Globant (GLOB)
Market Price (7/25/2026): $31.83 | Market Cap: $1.4 BilSector: Information Technology | Industry: IT Consulting & Other Services
Globant (GLOB)
Market Price (7/25/2026): $31.83Market Cap: $1.4 BilSector: Information TechnologyIndustry: IT Consulting & Other Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 19% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and E-commerce & Digital Retail. Themes include Software as a Service (SaaS), Show more. | Weak multi-year price returns2Y Excs Rtn is -119%, 3Y Excs Rtn is -146% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.7% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 22% Key risksGLOB key risks include [1] a major revenue slowdown while navigating a challenging transition to new AI-centric business models, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 19% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% |
| Megatrend and thematic driversMegatrends include Cloud Computing, Artificial Intelligence, and E-commerce & Digital Retail. Themes include Software as a Service (SaaS), Show more. |
| Weak multi-year price returns2Y Excs Rtn is -119%, 3Y Excs Rtn is -146% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -0.7% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 22% |
| Key risksGLOB key risks include [1] a major revenue slowdown while navigating a challenging transition to new AI-centric business models, Show more. |
Qualitative Assessment
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Globant (GLOB) stock has lost about 30% since 3/31/2026 because of the following key factors:
1. Moderated Revenue Growth and Outlook for Fiscal Year 2026.
Globant's revenues for fiscal Q1 2026, which ended March 31, 2026, were $607.1 million, exceeding company guidance but representing a 0.7% year-over-year decline. The company's guidance for fiscal Q2 2026 projected revenues between $610 million and $616 million, indicating a modest range from a 0.7% year-over-year decline to a 0.3% year-over-year increase. Furthermore, the full-year fiscal 2026 revenue guidance was maintained in the range of $2,462 million to $2,508 million, implying a relatively low year-over-year growth of 0.3% to 2.2%.
2. Persistent Profitability Pressure.
The company experienced a contraction in its profit margins during fiscal Q1 2026. The Non-IFRS Adjusted Gross Profit Margin decreased to 37.0% from 38.0% in fiscal Q1 2025. Similarly, the Non-IFRS Adjusted Profit from Operations Margin declined to 14.1% in fiscal Q1 2026 from 14.8% in the same period last year. This indicates a squeeze on operational efficiency despite efforts in areas like AI-native services.
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Globant (GLOB) stock has lost about 30% since 3/31/2026 because of the following key factors:
1. Moderated Revenue Growth and Outlook for Fiscal Year 2026.
Globant's revenues for fiscal Q1 2026, which ended March 31, 2026, were $607.1 million, exceeding company guidance but representing a 0.7% year-over-year decline. The company's guidance for fiscal Q2 2026 projected revenues between $610 million and $616 million, indicating a modest range from a 0.7% year-over-year decline to a 0.3% year-over-year increase. Furthermore, the full-year fiscal 2026 revenue guidance was maintained in the range of $2,462 million to $2,508 million, implying a relatively low year-over-year growth of 0.3% to 2.2%.
2. Persistent Profitability Pressure.
The company experienced a contraction in its profit margins during fiscal Q1 2026. The Non-IFRS Adjusted Gross Profit Margin decreased to 37.0% from 38.0% in fiscal Q1 2025. Similarly, the Non-IFRS Adjusted Profit from Operations Margin declined to 14.1% in fiscal Q1 2026 from 14.8% in the same period last year. This indicates a squeeze on operational efficiency despite efforts in areas like AI-native services.
3. Significant Analyst Downgrades and Valuation Re-evaluation.
Following the fiscal Q1 2026 earnings announcement on May 14, 2026, several financial analysts revised their price targets for Globant downwards. For example, on May 15, 2026, Canaccord Genuity lowered its target from $50 to $40, Goldman Sachs from $68 to $60, and Needham from $60 to $50. Additionally, Morningstar downgraded its economic moat rating to "None" and reduced its fair value estimate by 29% on May 15, 2026, specifically citing "AI Disruption Potential."
4. Broader Market Concerns Regarding AI Disruption.
A contributing factor to the stock's trend has been wider market sentiment, where a "selloff in software names was largely driven by AI disruption fears rather than deteriorating fundamentals" in fiscal Q1 2026. Despite Globant's focus on AI-native tech services and a pipeline of $352 million for its AI Pods as of March 2026, the broader industry concern about the transformative impact of AI on existing business models appears to have negatively affected investor perception.
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Stock Movement Drivers
Fundamental Drivers
The -32.1% change in GLOB stock from 3/31/2026 to 7/24/2026 was primarily driven by a -37.4% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7242026 | Change |
|---|---|---|---|
| Stock Price ($) | 46.11 | 31.30 | -32.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,455 | 2,451 | -0.2% |
| Net Income Margin (%) | 4.3% | 4.5% | 6.2% |
| P/E Multiple | 19.5 | 12.2 | -37.4% |
| Shares Outstanding (Mil) | 44 | 43 | 2.3% |
| Cumulative Contribution | -32.1% |
Market Drivers
3/31/2026 to 7/24/2026| Return | Correlation | |
|---|---|---|
| GLOB | -32.1% | |
| Market (SPY) | 13.6% | -1.6% |
| Sector (XLK) | 32.3% | -13.0% |
Fundamental Drivers
The -52.1% change in GLOB stock from 12/31/2025 to 7/24/2026 was primarily driven by a -58.7% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7242026 | Change |
|---|---|---|---|
| Stock Price ($) | 65.37 | 31.30 | -52.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,485 | 2,451 | -1.4% |
| Net Income Margin (%) | 4.0% | 4.5% | 13.8% |
| P/E Multiple | 29.5 | 12.2 | -58.7% |
| Shares Outstanding (Mil) | 45 | 43 | 3.3% |
| Cumulative Contribution | -52.1% |
Market Drivers
12/31/2025 to 7/24/2026| Return | Correlation | |
|---|---|---|
| GLOB | -52.1% | |
| Market (SPY) | 8.7% | 16.9% |
| Sector (XLK) | 22.3% | 4.4% |
Fundamental Drivers
The -65.5% change in GLOB stock from 6/30/2025 to 7/24/2026 was primarily driven by a -54.0% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7242026 | Change |
|---|---|---|---|
| Stock Price ($) | 90.84 | 31.30 | -65.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,456 | 2,451 | -0.2% |
| Net Income Margin (%) | 6.2% | 4.5% | -26.6% |
| P/E Multiple | 26.5 | 12.2 | -54.0% |
| Shares Outstanding (Mil) | 44 | 43 | 2.3% |
| Cumulative Contribution | -65.5% |
Market Drivers
6/30/2025 to 7/24/2026| Return | Correlation | |
|---|---|---|
| GLOB | -65.5% | |
| Market (SPY) | 20.6% | 23.5% |
| Sector (XLK) | 39.5% | 10.7% |
Fundamental Drivers
The -82.6% change in GLOB stock from 6/30/2023 to 7/24/2026 was primarily driven by a -76.2% change in the company's P/E Multiple.| (LTM values as of) | 6302023 | 7242026 | Change |
|---|---|---|---|
| Stock Price ($) | 179.72 | 31.30 | -82.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,851 | 2,451 | 32.4% |
| Net Income Margin (%) | 8.0% | 4.5% | -43.6% |
| P/E Multiple | 51.2 | 12.2 | -76.2% |
| Shares Outstanding (Mil) | 42 | 43 | -1.8% |
| Cumulative Contribution | -82.6% |
Market Drivers
6/30/2023 to 7/24/2026| Return | Correlation | |
|---|---|---|
| GLOB | -82.6% | |
| Market (SPY) | 72.6% | 40.0% |
| Sector (XLK) | 106.1% | 32.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GLOB Return | 44% | -46% | 42% | -10% | -70% | -53% | -86% |
| Peers Return | 45% | -34% | 11% | -7% | -13% | -47% | -55% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| GLOB Win Rate | 58% | 33% | 42% | 42% | 25% | 29% | |
| Peers Win Rate | 65% | 40% | 54% | 50% | 48% | 25% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| GLOB Max Drawdown | -29% | -49% | -23% | -39% | -76% | -61% | |
| Peers Max Drawdown | -20% | -49% | -29% | -32% | -40% | -56% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACN, EPAM, CTSH, DXC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/24/2026 (YTD)
How Low Can It Go
| Event | GLOB | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.2% | -9.5% |
| % Gain to Breakeven | 11.3% | 10.5% |
| Time to Breakeven | 5 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -17.6% | -6.7% |
| % Gain to Breakeven | 21.4% | 7.1% |
| Time to Breakeven | 10 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -43.8% | -33.7% |
| % Gain to Breakeven | 77.8% | 50.9% |
| Time to Breakeven | 45 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -18.7% | -19.2% |
| % Gain to Breakeven | 22.9% | 23.8% |
| Time to Breakeven | 32 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -25.8% | -3.7% |
| % Gain to Breakeven | 34.8% | 3.9% |
| Time to Breakeven | 146 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.3% | -12.2% |
| % Gain to Breakeven | 37.6% | 13.9% |
| Time to Breakeven | 18 days | 62 days |
In The Past
Globant's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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Asset Allocation
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| Event | GLOB | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -43.8% | -33.7% |
| % Gain to Breakeven | 77.8% | 50.9% |
| Time to Breakeven | 45 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -25.8% | -3.7% |
| % Gain to Breakeven | 34.8% | 3.9% |
| Time to Breakeven | 146 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.3% | -12.2% |
| % Gain to Breakeven | 37.6% | 13.9% |
| Time to Breakeven | 18 days | 62 days |
In The Past
Globant's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Globant (GLOB)
Globant S.A. is a global technology services company that partners with organizations worldwide to drive digital transformation and innovation. The company provides a comprehensive suite of services aimed at helping businesses reinvent themselves, enhance customer experiences, and optimize operations through advanced technology solutions. Its offerings span strategic consulting, design, and engineering, enabling clients to navigate the complexities of the digital age.
The company's core services include developing cutting-edge digital experiences, implementing robust cloud solutions, and leveraging data strategies, including AI and MLOps, to derive actionable insights. Globant also specializes in industry-specific solutions for sectors like financial services (e.g., digital lending, payments), healthcare (e.g., telemedicine, genomics), media & entertainment, and travel & hospitality. Furthermore, it offers expertise in areas such as cybersecurity, blockchain, IoT, and quality engineering, often integrating these through specialized studios and proprietary platforms like StarMeUp and PagoChat.
Globant serves a diverse and global clientele across a wide array of industries. Its primary customers are large and medium-sized enterprises seeking to modernize their technology infrastructure, create new digital products, improve operational efficiency, and deliver superior customer engagement. By offering a full spectrum of technology and consulting services, Globant positions itself as a strategic partner for businesses looking to innovate and stay competitive in an ever-evolving digital landscape.
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1. A global digital transformation and technology services company, similar to Accenture.
2. Like Deloitte Digital, focused on designing, building, and implementing cutting-edge digital solutions and products for large enterprises.
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Service Categories
- Digital Transformation & Customer Experience: Provides services for e-commerce, user experience design, digital marketing, and product strategy to drive business reinvention.
- Financial Services Technology: Offers solutions for digital lending, payments, open banking, smart underwriting, and regulatory analytics.
- Gaming & Entertainment Technology: Delivers expertise in game and graphic engineering, UI/UX design, and game-as-a-service for the entertainment sector.
- Healthcare & Life Sciences Technology: Focuses on solutions like image diagnosis, genomics data processing, telemedicine, and precision medicine.
- Cloud & DevOps Services: Guides cloud transformation, environment building, workload migration, and provides ongoing cloud support and site reliability engineering.
- Data, AI & MLOps Services: Develops data strategies, builds platforms, generates insights, and implements MLOps for data-driven product development.
- Enterprise Solutions & Business Agility: Offers services including agile delivery, enterprise applications, IoT, process optimization, cybersecurity, and strategic architectural consulting.
- Travel & Hospitality Services: Provides specialized technology solutions designed for the travel and hospitality industries.
- Smart Farming Services: Delivers technology solutions aimed at optimizing agricultural processes.
Proprietary Software Platforms
- Augmented Coding and Testing: A platform that enhances software development and quality assurance through automated tools.
- StarMeUp: An employee engagement and recognition platform.
- PagoChat: A conversational platform designed for payment processing and financial interactions.
- ShopChat: A conversational platform enabling e-commerce and retail customer experiences.
- Walmeric: A platform for sales, marketing, and customer engagement solutions.
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Globant S.A. (GLOB) primarily sells its technology services and platforms to other companies, making it a business-to-business (B2B) service provider.
Based on publicly available information, Globant does not publicly disclose the names of its major customers, even those that contribute a significant portion of its revenue. The company maintains a policy of not disclosing client names for competitive reasons. Their annual filings indicate that while they have a diversified client base, a limited number of clients do account for a significant portion of their revenues (e.g., their largest client accounted for 9.8% of revenues in 2023), but these clients are not named.
Globant serves a broad range of enterprise clients across various industries, offering specialized solutions tailored to their needs. These industries include, but are not limited to:
- E-commerce and Retail
- Financial Services (e.g., digital lending, payments, sustainability, regulation analytics)
- Gaming and Entertainment
- Healthcare and Life Sciences (e.g., smart farming, image diagnosis, genomics data processing, telemedicine)
- Media and Entertainment
- Travel and Hospitality
- Technology and Cloud Services (e.g., cloud transformation, data platforms, MLOps)
- Insurance (e.g., smart underwriting, monitoring, digital collection)
While specific customer names are not disclosed, their client base spans these diverse sectors globally.
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Martín Migoya
CEO & Co-founder, Chairman
Martín Migoya co-founded Globant in 2003 with three friends, starting with approximately $5,000 in bootstrapped capital. He has served as CEO and Chairman since 2005. Migoya led Globant from a small startup to a publicly traded company on the NYSE in 2014, making it the first Latin American software company to achieve this milestone. Prior to Globant, he held roles as a project manager at YPF and a business manager at Origin B.V. Holland. He also co-founded the coding school Digital House. Globant received significant backing from private equity firms, including Riverwood Capital and FTV Capital, during its formative years.
Juan Urthiague
Chief Financial Officer & Investor Relations Officer
Juan Urthiague joined Globant in 2011 and was instrumental in the company's global expansion and its transformation into a publicly listed entity on the NYSE. He was appointed as Chief Financial Officer in October 2018. Before his current role, he served Globant from 2011 to 2017 in positions such as Global Treasurer, Investor Relations Officer, Head of Financial Services, and Head of Corporate Finance. In 2017, he spent 15 months as CFO Latam for OLX and as CFO for avantrip.com. His earlier career included financial roles at British American Tobacco, Ternium, and IBM, as well as Planning Manager for Amadeus IT Group and Senior Credit Specialist at Merrill Lynch.
Guibert Englebienne
Co-founder, President of Latam & Globant X
Guibert Englebienne co-founded Globant in 2003. He previously held the role of Globant's Chief Technology Officer from 2003 to 2021. Before co-founding Globant, Englebienne worked as a scientific researcher at IBM and as head of technology for CallNow.com Inc. He also serves as President of Endeavor Argentina, an organization supporting entrepreneurs.
Martín Umaran
Co-founder, Chief Corporate Development Officer & President EMEA
Martín Umaran is a co-founder of Globant, established in 2003. He has been pivotal in driving Globant's growth and expanding its global presence, and he oversees the company's Mergers and Acquisitions activities. Umaran served as Chief of Staff from 2013 to 2020 and as Chief Operations Officer and Chief Corporate Business Officer from 2005 to 2012. He is also recognized as an entrepreneur and mentor within the Endeavor network.
Néstor Nocetti
Co-founder & EVP Corporate Affairs
Néstor Nocetti co-founded Globant in 2003. In the company's early years, he was responsible for operational development and delivery. Currently, he leads Globant's relationships with governments, chambers of commerce, and civil society to further the company's global expansion. Nocetti has a background in hard engineering sciences, with previous experience in energy projects across Latin America, and is an advocate for educational systems and entrepreneurship.
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The key risks to Globant's business are multifaceted, stemming primarily from the intensely competitive nature of the technology services market, the evolving landscape of artificial intelligence, and challenges associated with its global operational model.
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Intense Competition, Pricing Pressure, and AI Commoditization/Adoption Challenges: Globant operates in a highly competitive digital transformation and IT services sector, contending with a broad spectrum of rivals, from large IT services firms (such as Accenture and IBM) to niche digital consultancies and AI startups. This intense competition contributes to pricing pressure and extended procurement cycles, impacting deal velocity and potentially leading to margin pressure as competitors bundle managed services or offer lower rate cards. Furthermore, the rapid commoditization of AI solutions threatens to erode premium differentiation and margins for Globant. While Globant is heavily focused on AI, the enterprise adoption of generative AI solutions has been slower and more focused on pilot projects rather than large-scale deployments, leading to skepticism about near-term growth potential and raising concerns about potential underinvestment in human talent.
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Geopolitical and Foreign Exchange (FX) Risks, and Geographical Revenue Concentration: Globant's global delivery footprint, particularly in Latin America and Eastern Europe, exposes it to geopolitical and FX risks that can impact cost predictability and operational stability. Additionally, the company exhibits a reliance on North America for a significant portion of its revenue. There is a need for Globant to expand its international presence to diversify its revenue streams and reduce this geographical concentration risk.
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Talent Management Challenges, including Wage Inflation and Retention: As a technology services company, Globant's success is highly dependent on its ability to attract, develop, and retain skilled professionals. The company faces ongoing talent retention challenges in key regions. Moreover, the potential for sustained wage inflation and rising talent costs could negatively impact profitability and operational expenses, especially in a competitive talent market.
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Globant S.A. (NYSE: GLOB) operates as a technology services company providing a broad range of digital transformation, software development, and consulting services across various industries. The addressable markets for its main products and services are significant and span across several rapidly growing technology sectors globally.
E-commerce Services
The global e-commerce market, encompassing services related to online sales and platforms, was estimated at USD 21.33 trillion in 2023 and is projected to reach USD 113.06 trillion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.41% from 2024 to 2032. Another estimate places the global e-commerce market size at USD 21.62 trillion in 2025, predicted to increase to approximately USD 83.19 trillion by 2035, with a CAGR of 14.43% from 2026 to 2035. The global B2B e-commerce market alone is valued at USD 36 trillion by 2026. Meanwhile, global B2C e-commerce revenue is expected to grow to USD 5.5 trillion by 2027, at a steady 14.4% CAGR.
Digital Lending and FinTech Services
The global digital lending market was valued at USD 507.27 billion in 2025 and is estimated to grow to USD 985.03 billion by 2031, at a CAGR of 11.68% during the forecast period from 2026 to 2031. Specifically, the global digital lending platform market size was valued at USD 13.96 billion in 2025 and is projected to grow to USD 70.31 billion by 2034, exhibiting a CAGR of 19.9%. The broader global FinTech market was valued at USD 394.88 billion in 2025 and is projected to reach USD 1,760.18 billion by 2034, with a CAGR of 18.20%. The fintech as a service market, a key offering, was calculated at USD 416.85 billion in 2025 and is expected to reach approximately USD 1,825.64 billion by 2035, expanding at a CAGR of 15.92% from 2026 to 2035.
Digital Health Services
The global digital health market size was valued at USD 573.3 billion in 2025 and is estimated to reach USD 2,088.1 billion by 2034, exhibiting a CAGR of 15.00% from 2026 to 2034. Another report indicates the global digital health market size was estimated at USD 353.27 billion in 2025 and is projected to reach around USD 2,147.17 billion by 2035, growing at a CAGR of 19.78% during the forecast period from 2026 to 2035. North America is a dominant region, holding over 38.6% of the market share in 2025.
Artificial Intelligence (AI) and Machine Learning (ML) Services
The global Artificial Intelligence (AI) market size was USD 638.23 billion in 2024, and is expected to reach around USD 3,680.47 billion by 2034, expanding at a CAGR of 19.20% from 2025 to 2034. The global AI market is projected to soar from USD 189 billion in 2023 to USD 4.8 trillion by 2033. Within AI, the global Machine Learning (ML) market size was valued at USD 47.99 billion in 2025 and is expected to grow to USD 432.63 billion by 2034, exhibiting a CAGR of 26.7%. The artificial intelligence as a service market size was estimated at USD 16.08 billion in 2024 and is projected to reach USD 105.04 billion by 2030, growing at a CAGR of 36.1% from 2025 to 2030.
Cybersecurity Services
The global cybersecurity market size reached USD 326.2 billion in 2025 and is expected to reach USD 676.3 billion by 2034, exhibiting a CAGR of 8.40% during 2026-2034. North America dominates this market, holding over 35.0% share in 2025. The global cybersecurity services market size is accounted at USD 177.27 billion in 2025 and predicted to increase to approximately USD 310.35 billion by 2034, expanding at a CAGR of 6.42% from 2025 to 2034.
Internet of Things (IoT) Solutions and Services
The global IoT solutions and services market size is valued at USD 369.34 billion in 2025 and is predicted to increase to approximately USD 1,490.99 billion by 2035, expanding at a CAGR of 14.98% from 2026 to 2035. The global Internet of Things (IoT) market size was valued at USD 864.32 billion in 2025 and is projected to grow from USD 1,055.02 billion in 2026 to USD 5,552.48 billion by 2034, exhibiting a CAGR of 23.10%. The IoT services market size is expected to reach USD 651.61 billion by 2030, with a CAGR of 17.7%.
Metaverse Services
The global metaverse market size was estimated at USD 105.40 billion in 2024 and is projected to reach USD 936.57 billion by 2030, growing at a CAGR of 46.4% from 2025 to 2030. Another assessment values the global metaverse market size at USD 1,273.58 billion in 2025 and projects it to grow to USD 10,808.57 billion by 2034, exhibiting a CAGR of 22.60%. North America leads this market, accounting for the largest market share of 42.8% in 2024.
Digital Marketing Services
The global digital marketing services market size is likely to be valued at USD 750.0 billion in 2026 and is projected to reach USD 1,300.0 billion by 2033, growing at a CAGR of 8% during the forecast period from 2026 to 2033. The full-service digital marketing agencies market size was over USD 369.08 billion in 2025 and is anticipated to cross USD 889.91 billion by 2035, growing at more than a 9.2% CAGR during the forecast period from 2026 to 2035.
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Expected Drivers of Future Revenue Growth for Globant (GLOB)
Over the next 2-3 years, Globant (NYSE: GLOB) is expected to drive future revenue growth through several key initiatives:
- Accelerated Adoption and Expansion of AI Pods and AI-Native Solutions: Globant anticipates significant growth from its AI Pods business and its broader AI-native delivery model. The company projects AI Pods to achieve an exit-rate annual recurring revenue (ARR) of $60 million to $100 million by the end of 2026, a substantial increase from $20.6 million in 2025. This growth is supported by a robust AI Pods pipeline, which reached $283 million in Q4 2025, and a shift to a token-based subscription model.
- Continued Demand for Digital and Cognitive Transformation Services: As a "pure play in digital and cognitive transformation," Globant is strategically positioned to capitalize on the expanding market for digital business services. The company is leveraging next-generation software and AI to deliver comprehensive solutions, with market forecasts indicating substantial growth in areas like generative AI and broader IT services through 2028.
- Expansion of Existing Client Relationships and New Customer Acquisition: A significant portion of Globant's revenue (96% in the last twelve months of Q4 2025) comes from existing customers, indicating strong client retention and the ability to increase wallet share. The company has also demonstrated growth in the number of accounts generating over $1 million in annual revenues and is actively acquiring new customers.
- Strategic Geographic Expansion: Globant is enhancing its global footprint by entering new markets. In 2023, the company expanded into over 10 new markets, and by Q1 2024, it had become operational in 33 countries, including new entries like the Philippines. This geographic diversification aims to broaden its client base and delivery capabilities.
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Share Repurchases
- Globant's board approved a new $125 million share buyback program on October 1, 2025.
- This program authorizes the allocation of up to $50 million per quarter for repurchases, commencing in Q4 2025 and continuing through Q4 2026.
- Between October 1, 2025, and December 31, 2025, the company repurchased 820,045 shares for $49.98 million under this program.
Share Issuance
- The net dollar increase in outstanding stock for the trailing twelve months leading up to April 30, 2025, was valued at $3.4 million.
- Globant S.A. had 43,835,604 common shares outstanding at the end of 2025.
- The number of shares outstanding has shown a general increase over the past few years, rising from 42.1 million in 2021 to 44.59 million in 2024 and 2025.
Outbound Investments
- Globant has been highly active in acquisitions, with peak activity in 2023 (5 acquisitions) and 4 acquisitions in both 2022 and 2021.
- Notable recent acquisitions include Exusia (October 2024) for AI-driven digital transformation, Iteris (January 2024), and GUT (November 2023) for integrating creative communications with technology.
- The company plans to primarily finance new acquisitions with cash, as it operates in a debt-free position.
Capital Expenditures
- Globant's capital expenditures averaged $38.393 million annually for the fiscal years ending December 2020 to 2024.
- Capital expenditures reached a peak of $47.063 million in December 2022 and a five-year low of $27.733 million in December 2024.
- In the first quarter of 2025, capital expenditures amounted to $21.405 million.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Would You Still Hold Globant Stock If It Fell 30%? | 10/17/2025 | |
| GLOB Dip Buy Analysis | 07/10/2025 | |
| Globant (GLOB) Valuation Ratios Comparison | 05/15/2025 | |
| Globant Total Shareholder Return (TSR): -9.9% in 2024 and -11.9% 3-yr compounded annual returns (below peer average) | 03/07/2025 | |
| Should You Buy Globant Stock? | 02/28/2025 | |
| Globant (GLOB) Operating Cash Flow Comparison | 02/17/2025 | |
| Globant (GLOB) Net Income Comparison | 02/15/2025 | |
| Globant (GLOB) Operating Income Comparison | 02/14/2025 | |
| Globant (GLOB) Revenue Comparison | 02/13/2025 | |
| Fundamental Metrics: ... | 06/19/2024 | |
| ARTICLES | ||
| Stocks Trading At 52-Week Low | 02/13/2026 |
Research & Analysis
Invest in Strategies
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 45.45 |
| Mkt Cap | 4.8 |
| Rev LTM | 12,644 |
| Op Inc LTM | 537 |
| FCF LTM | 819 |
| FCF 3Y Avg | 865 |
| CFO LTM | 1,248 |
| CFO 3Y Avg | 1,336 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.5% |
| Rev Chg 3Y Avg | 4.8% |
| Rev Chg Q | 5.6% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | 0.8% |
| Op Inc Chg 3Y Avg | 4.8% |
| Op Mgn LTM | 9.7% |
| Op Mgn 3Y Avg | 10.6% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 12.9% |
| CFO/Rev 3Y Avg | 11.3% |
| FCF/Rev LTM | 10.3% |
| FCF/Rev 3Y Avg | 9.8% |
Price Behavior
| Market Price | $31.30 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 07/18/2014 | |
| Distance from 52W High | -66.5% | |
| 50 Days | 200 Days | |
| DMA Price | $34.69 | $50.85 |
| DMA Trend | down | down |
| Distance from DMA | -9.8% | -38.5% |
| 3M | 1YR | |
| Volatility | 69.5% | 58.5% |
| Downside Capture | -19.03 | 199.08 |
| Upside Capture | -162.39 | 37.68 |
| Correlation (SPY) | -7.9% | 23.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.24 | -0.27 | 0.23 | 0.98 | 1.20 | 1.39 |
| Up Beta | -0.54 | 0.62 | 0.51 | 0.86 | 1.12 | 1.25 |
| Down Beta | 1.11 | 0.36 | -0.23 | 0.98 | 1.01 | 1.59 |
| Up Capture | -174% | -154% | -59% | -1% | 31% | 63% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 4 | 14 | 23 | 52 | 110 | 362 |
| Down Capture | 170% | 32% | 146% | 180% | 162% | 111% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 17 | 27 | 40 | 73 | 141 | 388 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GLOB | |
|---|---|---|---|---|
| GLOB | -65.4% | 58.4% | -1.58 | - |
| Sector ETF (XLK) | 35.9% | 24.8% | 1.19 | 10.9% |
| Equity (SPY) | 17.6% | 12.7% | 1.00 | 23.6% |
| Gold (GLD) | 19.2% | 28.1% | 0.61 | -6.5% |
| Commodities (DBC) | 34.7% | 19.1% | 1.42 | -2.9% |
| Real Estate (VNQ) | 13.8% | 14.1% | 0.69 | 19.2% |
| Bitcoin (BTCUSD) | -45.4% | 42.9% | -1.29 | 24.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GLOB | |
|---|---|---|---|---|
| GLOB | -32.3% | 52.2% | -0.55 | - |
| Sector ETF (XLK) | 19.4% | 25.6% | 0.68 | 47.4% |
| Equity (SPY) | 12.8% | 17.1% | 0.58 | 50.7% |
| Gold (GLD) | 17.0% | 18.4% | 0.75 | 3.3% |
| Commodities (DBC) | 9.6% | 19.5% | 0.38 | 6.7% |
| Real Estate (VNQ) | 3.0% | 18.9% | 0.06 | 39.1% |
| Bitcoin (BTCUSD) | 15.7% | 53.4% | 0.47 | 26.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GLOB | |
|---|---|---|---|---|
| GLOB | -2.9% | 48.0% | 0.12 | - |
| Sector ETF (XLK) | 24.1% | 24.8% | 0.88 | 52.7% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 53.1% |
| Gold (GLD) | 11.3% | 16.1% | 0.57 | 4.8% |
| Commodities (DBC) | 7.2% | 17.9% | 0.32 | 11.9% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 39.4% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 16.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 6-K |
| 12/31/2025 | 02/27/2026 | 20-F |
| 09/30/2025 | 11/13/2025 | 6-K |
| 06/30/2025 | 08/14/2025 | 6-K |
| 03/31/2025 | 05/15/2025 | 6-K |
| 12/31/2024 | 02/28/2025 | 20-F |
| 09/30/2024 | 11/14/2024 | 6-K |
| 06/30/2024 | 08/15/2024 | 6-K |
| 03/31/2024 | 05/16/2024 | 6-K |
| 12/31/2023 | 02/29/2024 | 20-F |
| 09/30/2023 | 11/16/2023 | 6-K |
| 06/30/2023 | 08/17/2023 | 6-K |
| 03/31/2023 | 05/18/2023 | 6-K |
| 12/31/2022 | 02/28/2023 | 20-F |
| 09/30/2022 | 11/17/2022 | 6-K |
| 06/30/2022 | 08/18/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/14/2026 | 6-K |
| 12/31/2025 | 02/27/2026 | 20-F |
| 09/30/2025 | 11/13/2025 | 6-K |
| 06/30/2025 | 08/14/2025 | 6-K |
| 03/31/2025 | 05/15/2025 | 6-K |
| 12/31/2024 | 02/28/2025 | 20-F |
| 09/30/2024 | 11/14/2024 | 6-K |
| 06/30/2024 | 08/15/2024 | 6-K |
| 03/31/2024 | 05/16/2024 | 6-K |
| 12/31/2023 | 02/29/2024 | 20-F |
| 09/30/2023 | 11/16/2023 | 6-K |
| 06/30/2023 | 08/17/2023 | 6-K |
| 03/31/2023 | 05/18/2023 | 6-K |
| 12/31/2022 | 02/28/2023 | 20-F |
| 09/30/2022 | 11/17/2022 | 6-K |
| 06/30/2022 | 08/18/2022 | 6-K |
| 03/31/2022 | 05/19/2022 | 6-K |
| 12/31/2021 | 02/28/2022 | 20-F |
| 09/30/2021 | 11/18/2021 | 6-K |
| 06/30/2021 | 08/12/2021 | 6-K |
| 03/31/2021 | 05/24/2021 | 6-K |
| 12/31/2020 | 02/26/2021 | 20-F |
| 09/30/2020 | 11/12/2020 | 6-K |
| 06/30/2020 | 08/13/2020 | 6-K |
| 03/31/2020 | 06/03/2020 | 6-K |
| 12/31/2019 | 02/28/2020 | 20-F |
| 09/30/2019 | 11/14/2019 | 6-K |
| 06/30/2019 | 08/15/2019 | 6-K |
Insider Activity
Updated 6/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Aguzin, Alejandro Nicolas | Direct | Buy | 5282026 | 38.87 | 25,000 | 971,838 | 1,872,070 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Aguzin, Alejandro Nicolas | Direct | Buy | 5282026 | 38.87 | 25,000 | 971,838 | 1,872,070 | Form |
Investor Activity (13F)
Updated Jul 25, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Globant — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| IT Consulting & Other Services Resources |
| IDC |
| Forrester |
| Consultancy.org |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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