Mizuho Lowers Globant Price Target to $76 After Q4 Revenue Beats Guidance
Mizuho lowered its Globant price target to $76 from $91 while maintaining an Outperform rating after delivering Q4 revenue of $612.5 million, down 4.7% year over year but above guidance. Globant reported record quarterly free cash flow of $152.8 million, guiding 2026 revenue of $2.46–$2.51 billion with EPS of $6.10–$6.50.
1. Price Target Adjustment by Mizuho
On March 3, Dan Dolev cut Globant’s price target to $76 from $91 while retaining an Outperform rating, reflecting in-line 2026 guidance despite better-than-expected fourth-quarter performance.
2. Fourth-Quarter Financial Results
Q4 revenue reached $612.5 million, down 4.7% year over year but above guidance, with non-IFRS adjusted EPS of $1.54 and operating margin of 15.5%, supported by strong operational discipline.
3. Cash Flow and Full-Year 2025 Performance
Globant generated a record $152.8 million in quarterly free cash flow as full-year 2025 revenue grew 1.6% to $2.4549 billion and adjusted EPS reached $6.14.
4. 2026 Outlook and Strategic Shift
The company forecasts revenue of $2.46–$2.51 billion and EPS of $6.10–$6.50, buoyed by a $3 billion-plus pipeline and a move toward token-based intelligent subscriptions.