Scotiabank Upgrades Globant S.A. (GLOB) to 'Outperform'; Maintains $115 PT

Globant S.A. (NYSE:GLOB) is included in our list of the 10 Most Undervalued Foreign Stocks to Buy According to Analysts.

On July 21, 2025, Scotiabank upgraded its rating on Globant S.A. (NYSE:GLOB) to ‘Outperform’. Maintaining a $115 price target, the analyst cited the company’s industry-leading capabilities and increased capacity to meet the growing demand for AI-driven enterprise solutions. Scotiabank also considers the company’s Service-as-a-Software (SaaS) model that integrates AI-led workflows across business operations.

This upgrade from the analyst follows a challenging 2025 so far. A 54% YoY decline in Globant S.A. (NYSE:GLOB)’s shares was noted in Alger Mid Cap Focus Fund’s Q2 2025 investor letter, following weaker-than-expected Q1 results. The company attributed its weak Q1 performance to project delays, especially in North America, amid ongoing macroeconomic uncertainty.

Globant S.A. (NYSE:GLOB), a Luxembourg-based technology services firm, leverages AI, cloud, software development, and enterprise solutions to help businesses transform digitally. It remains on our list of the most undervalued stocks.

While we acknowledge the potential of GLOB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.