11 Best Tech Stocks to Buy On the Dip

8. Globant S.A. (NYSE:GLOB)

Year-to-Date Performance: -55.87%

Analyst Upside Potential: 29.73%

Number of Hedge Fund Holders: 31

Globant S.A. (NYSE:GLOB) is one of the 11 Best Tech Stocks to Buy On the Dip. The company released its Q1 2025 results on May 15. Globant S.A. (NYSE:GLOB) missed revenue and EPS estimates causing the stock to dip. It posted a revenue of $611.09 million, reflecting 7% growth. However, this was below the market consensus by $10.37 million. The EPS of $1.50 also missed estimates by $0.08.

On May 16, Arvind Ramnani analyst at Piper Sandler downgraded Globant S.A. (NYSE:GLOB) from Buy to Hold, while also adjusting the price target from $154 to $116. The analyst noted they had already estimated the macro headwinds, which impacted the revenue growth thereby reducing its estimates.

Impax US Sustainable Economy Fund mentioned Globant S.A. (NYSE:GLOB) in its Q1 2025 investor letter. The fund noted that the company delivered satisfactory results driven by broad demand through various industry verticals and also witnessed revenue growth in new markets. Despite the satisfactory growth, the stock has trembled more than 55.87% on a year-to-date basis mainly due to a complex macroeconomic environment impacting customer spending. The fund anticipates the economic pressure to impact the revenue projections. Management of Globant S.A. (NYSE:GLOB) anticipates second-quarter revenue to be at least $612.0 million, reflecting 4.2% year-over-year growth.

Impax US Sustainable Economy Fund stated the following regarding Globant S.A. (NYSE:GLOB) in its Q1 2025 investor letter:

“Globant S.A. (NYSE:GLOB) (Information Technology) is a software solutions provider helping to enhance productivity and drive increasing digital infrastructure in the transition to a more sustainable economy. The stock was down despite delivering satisfactory results, due to broad demand across multiple industry verticals and significant revenue growth in new markets. However, political volatility and macroeconomic pressures in Latin America are expected to affect demand, resulting in slightly lower revenue projections for the upcoming fiscal year.”