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.

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