Globant price target raised to $290 from $257 at Piper Sandler

Piper Sandler raised the firm’s price target on Globant to $290 from $257 and keeps an Overweight rating on the shares. Globant delivered in-line 4Q results, with reported revenue growth of 18% year over year, and Q1 guidance assumes a modest deceleration due to foreign exchange in Argentina and one-offs related to licenses, the analyst tells investors in a research note. The firm expects spend to improve through the year and believes Globant is well-positioned given its adaptability, willingness to invest, and deep client relationships.