Why Mizuho Still Likes Globant (GLOB) Despite a Lower Price Target

Globant S.A. (NYSE:GLOB) is one of the cheap AI stocks to buy in 2026.

On March 3, 2026, Mizuho analyst Dan Dolev lowered his price target on Globant S.A. to $76 from $91 while maintaining an Outperform rating. According to The Fly coverage, Dolev said Globant reported better-than-expected fourth-quarter results and provided relatively in-line 2026 guidance.

The analyst note followed Globant’s February 26, 2026, fourth-quarter and full-year 2025 financial report. In that release, the company reported fourth-quarter revenue of $612.5 million, above its guidance, though down 4.7% year over year. Non-IFRS adjusted diluted EPS was $1.54, versus $1.75 in the prior-year quarter, while non-IFRS adjusted operating margin was 15.5%. For full-year 2025, revenue rose 1.6% to $2.4549 billion, and non-IFRS adjusted diluted EPS was $6.14.

Globant’s management tied the quarter to improving demand conditions and execution discipline. CEO Martín Migoya said the company is moving beyond a traditional seats model with a token-based intelligent subscription approach, while CFO Juan Urthiague said fourth-quarter revenue reflected an improvement in client sentiment. Urthiague also cited strong operational discipline, a pipeline exceeding $3 billion, and record quarterly free cash flow of $152.8 million.

For 2026, Globant guided to full-year revenue of $2.46 billion to $2.51 billion and non-IFRS adjusted diluted EPS of $6.10 to $6.50, which helps explain Mizuho’s description of the outlook as relatively in-line.

Globant S.A. (NYSE:GLOB) is a digital native technology services company that helps enterprises with digital transformation, software engineering, design, and AI-focused solutions across multiple industries.

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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