QQQ   281.68 (-2.07%)
AAPL   142.91 (-2.54%)
MSFT   245.12 (-2.03%)
META   114.12 (-6.79%)
GOOGL   96.98 (-2.51%)
AMZN   88.25 (-3.03%)
TSLA   179.82 (-1.44%)
NVDA   159.87 (-3.75%)
NIO   13.24 (+3.44%)
BABA   91.45 (+1.03%)
AMD   70.27 (-4.55%)
T   19.17 (+2.24%)
MU   53.68 (-0.67%)
CGC   3.61 (-16.44%)
F   13.28 (-0.75%)
GE   85.28 (+0.73%)
DIS   92.29 (-3.79%)
AMC   6.75 (-9.40%)
PYPL   72.23 (-1.89%)
PFE   49.71 (-2.01%)
NFLX   305.56 (-2.25%)
QQQ   281.68 (-2.07%)
AAPL   142.91 (-2.54%)
MSFT   245.12 (-2.03%)
META   114.12 (-6.79%)
GOOGL   96.98 (-2.51%)
AMZN   88.25 (-3.03%)
TSLA   179.82 (-1.44%)
NVDA   159.87 (-3.75%)
NIO   13.24 (+3.44%)
BABA   91.45 (+1.03%)
AMD   70.27 (-4.55%)
T   19.17 (+2.24%)
MU   53.68 (-0.67%)
CGC   3.61 (-16.44%)
F   13.28 (-0.75%)
GE   85.28 (+0.73%)
DIS   92.29 (-3.79%)
AMC   6.75 (-9.40%)
PYPL   72.23 (-1.89%)
PFE   49.71 (-2.01%)
NFLX   305.56 (-2.25%)
QQQ   281.68 (-2.07%)
AAPL   142.91 (-2.54%)
MSFT   245.12 (-2.03%)
META   114.12 (-6.79%)
GOOGL   96.98 (-2.51%)
AMZN   88.25 (-3.03%)
TSLA   179.82 (-1.44%)
NVDA   159.87 (-3.75%)
NIO   13.24 (+3.44%)
BABA   91.45 (+1.03%)
AMD   70.27 (-4.55%)
T   19.17 (+2.24%)
MU   53.68 (-0.67%)
CGC   3.61 (-16.44%)
F   13.28 (-0.75%)
GE   85.28 (+0.73%)
DIS   92.29 (-3.79%)
AMC   6.75 (-9.40%)
PYPL   72.23 (-1.89%)
PFE   49.71 (-2.01%)
NFLX   305.56 (-2.25%)
QQQ   281.68 (-2.07%)
AAPL   142.91 (-2.54%)
MSFT   245.12 (-2.03%)
META   114.12 (-6.79%)
GOOGL   96.98 (-2.51%)
AMZN   88.25 (-3.03%)
TSLA   179.82 (-1.44%)
NVDA   159.87 (-3.75%)
NIO   13.24 (+3.44%)
BABA   91.45 (+1.03%)
AMD   70.27 (-4.55%)
T   19.17 (+2.24%)
MU   53.68 (-0.67%)
CGC   3.61 (-16.44%)
F   13.28 (-0.75%)
GE   85.28 (+0.73%)
DIS   92.29 (-3.79%)
AMC   6.75 (-9.40%)
PYPL   72.23 (-1.89%)
PFE   49.71 (-2.01%)
NFLX   305.56 (-2.25%)

Globant Rallies To New Highs After Second-Stage Base Breakout

Globant Rallies To New Highs After Second-Stage Base BreakoutIT specialist Globant (NYSE: GLOB) advanced 30.64% in the past month as it zipped past a buy point above $323.79 and just kept rallying. The stock closed Tuesday at $354.44, up $6.51, or 1.87% in the session.

Luxembourg-based Globant develops platforms that it calls “digital journeys.” In its own words, “We are a digitally native company where innovation, design and engineering meet scale. We use the latest technologies in the digital and cognitive field to empower organizations in every aspect.”

It also describes itself as such: “We are a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. We are the place where innovation, design and engineering meet scale.”

Clients include the London metropolitan police, SmileDirect Club, Rockwell Automation, Autodesk, Santander and Electronic Arts. 

Although it went public back in 2014, that’s still in the window of time when companies tend to notch their biggest price advances after going public. In the past year, Globant is up 75.2%. Its year-to-date advance is 62.88%. 

The company is expected to report earnings on or around November 18. Wall Street expects earnings of $0.71 per share on revenue of $327.44 million. Both would be gains over the year-earlier quarter.

According to MarketBeat earnings data, Globant topped earnings and revenue estimates in each of the past five quarters. 

Accelerating Earnings And Revenue Growth

Globant’s revenue growth accelerated in the past four quarters, increasing from 16% to 67%. Earnings growth accelerated from 9% to 96% in the past two quarters.


The company has been profitable every year since going public and has managed to increase earnings every year. Even in 2020, when growth rates slowed in the second and third quarters, the company topped year-earlier earnings.

For the full year, analysts expect Globant to earn $3.50 per share, up 50% over last year. In 2022, that’s seen growing another 28% to $4.48 per share. 

Although those estimates were revised lower recently, it’s significant that analysts still expect double-digit earnings growth in 2022. Many companies’ growth forecasts are currently pegged in the single digits for next year, following large year-over-year gains in 2021, 

Last month, the company said it had become carbon neutral as a new step in its commitment to become a net-zero company. According to a news release, Globant started its Net-Zero Roadmap in 2020 when it moved to 100% renewable electricity, buying renewable energy certificates that ensured the use of renewable sources in all its operations.

"At Globant we have always been aware of our environmental footprint and reaching carbon neutrality is another important step in our Race to Zero journey," said co-founder and CEO Martín Migoya in a statement. "Our efforts to become a net-zero company are aligned to our purpose of making the world a better place, one step at a time and being part of the solution."

Bolstering Its Position In Blockchain

The company is also eyeing other timely initiatives. In early October, it acquired Atix Labs  to strengthen and empower its blockchain and crypto-related solutions and products. Globant said the agreement would allow it to offer cutting-edge solutions for clients on decentralized finance, smart contracts and asset tokenization while expanding the offering of its Blockchain Studio.

According to Globant, “This acquisition helps Globant to expand its offering in the blockchain market, which is expected to grow 10 times by 2025, according to industry analysts.” 

It will also enable the company to continue delivering novel and disruptive solutions to its clients in different business verticals, such as media & entertainment, finance, real estate, healthcare, finance, supply chain, and other verticals. 

Financial terms were not disclosed. 

Following the stock’s recent breakout from an eight-week second stage base, Globant is trading at all-time highs. It’s currently up 6.5% from its buy point. That’s a little too high to chase. A better strategy is to wait for a pullback to a key moving average, where the stock gets support. That would show you that some investors were taking small profits before potentially setting up the stock for further gains. 
Globant Rallies To New Highs After Second-Stage Base Breakout

Should you invest $1,000 in Globant right now?

Before you consider Globant, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Globant wasn't on the list.

While Globant currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Globant (GLOB)
3.2562 of 5 stars
$171.71-4.1%N/A52.83Buy$235.00
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Kate Stalter

About Kate Stalter

Contributing Author: Retirement, Asset Allocation, and Tax Strategies

Kate Stalter is a Series 65-licensed asset manager, with more than two decades of experience in various areas of financial services. As an investment advisor and financial planner, Kate personally manages client portfolios, with a focus on successful retirement, including asset allocation, income generation and tax strategies. Kate also serves as a capital-markets contributor at Forbes.com, and is an expert columnist for the investment advisory channel at U.S. News & World Report.
Contact Kate Stalter via email at stalterkate@gmail.com.