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.

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

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 to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GLOB and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.