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Globant Focuses on Strategic Partnerships: Will the Stock Gain?
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Globant S.A. (GLOB - Free Report) is focusing on strategic partnerships to broaden its market presence and propel top-line expansion. GLOB and William Racing recently collaborated to elevate fans’ engagement with Formula 1 by leveraging Globant's advanced technological expertise.
Globant has been a long-standing sponsor of Franco Colapinto and supported his journey through the F2 campaign. The partnership comes at a crucial time, as the team gears up for the Italian Grand Prix event, where Colapinto will debut as the first Argentine Formula 1 driver in over two decades.
In May 2024, Globant inked a multi-year partnership with Formula 1 (spanning till 2026) by providing cutting-edge IT infrastructure that boosts the digital experience for both F1 racing teams and audiences.
Globant has become a key player in the technology sector through its collaboration with prominent sports organizations, such as Formula 1, FIFA and the LA Clippers. Its expertise in digital experiences has consistently bolstered the interaction between fans and their favorite sports, creating immersive and engaging environments.
GLOB’s Focus on Deal Wins to Boost Top-Line Expansion
Globant remains at the forefront of strategic partnerships through its differentiated product portfolio. In July 2024, the company tied up with Amazon Web Services (“AWS”) to aid clients in leveraging RISE with SAP solution for upgrading on-premise SAP enterprise resource planning systems and migrating to the cloud. It has been collaborating with AWS since 2011, offering innovative solutions in cloud strategy, migration, modernization, advanced data analytics, product innovation and cloud engineering.
In May 2024, Sportian, the Sports & Entertainment subsidiary of Globant, allied with gaming and web3 expertise, StadioPlus. The initiative was undertaken to fuel digital transformation in the arena of sport and entertainment by harnessing the power of the latest technology, such as artificial intelligence, data analytics and immersive experiences, to create a more personalized and interactive environment for fans.
In March 2024, GLOB’s subsidiary — GeneXus — partnered with NVIDIA. Under the terms of collaboration, GLOB will integrate NVIDIA’s AI technology with its enterprise AI platform.
In the last reported quarter, GLOB’s revenues jumped 18.1% year over year to $587.5 million. The uptick was attributable to solid momentum across most of the business segments. Management highlighted a massive growth of 130% in AI-related sales in the first half of 2024. Its top customer, top five customers and top 10 customers accounted for 8.3%, 21% and 30.3% of revenues, respectively. The improvement in top-line expansion is likely to propel the stock trajectory upward.
Luxembourg-based Globant is a global provider of engineering, design and innovation services for clients. It is involved in the provision of data management solutions, quality assurance engagement strategy, mobile testing, test automation, load and performance testing and game testing services. It exited the June quarter with 29,112 headcounts, representing an increase of 12.2% year over year.
GLOB’s Zacks Rank & Stock Price Movement
At present, GLOB carries a Zacks Rank #3 (Hold). Globant’s shares were up 0.9% in the last day’s trading on Aug. 29. Shares of the company have lost 16.2% compared with the sub-industry’s decline of 5.7% in the year-to-date period.
Arista Networks supplies products to a prestigious set of customers, including Fortune 500 global companies in markets like cloud titans, enterprises, financials and specialty cloud service providers. It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, Arista delivered an earnings surprise of 8.25%.
Harmonic enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. HLIT delivered a trailing four-quarter average earnings surprise of 32.5%.
Ubiquiti company offers a comprehensive portfolio of networking products and solutions for service providers and enterprises. The company’s effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques.
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Globant Focuses on Strategic Partnerships: Will the Stock Gain?
Globant S.A. (GLOB - Free Report) is focusing on strategic partnerships to broaden its market presence and propel top-line expansion. GLOB and William Racing recently collaborated to elevate fans’ engagement with Formula 1 by leveraging Globant's advanced technological expertise.
Globant has been a long-standing sponsor of Franco Colapinto and supported his journey through the F2 campaign. The partnership comes at a crucial time, as the team gears up for the Italian Grand Prix event, where Colapinto will debut as the first Argentine Formula 1 driver in over two decades.
In May 2024, Globant inked a multi-year partnership with Formula 1 (spanning till 2026) by providing cutting-edge IT infrastructure that boosts the digital experience for both F1 racing teams and audiences.
Globant has become a key player in the technology sector through its collaboration with prominent sports organizations, such as Formula 1, FIFA and the LA Clippers. Its expertise in digital experiences has consistently bolstered the interaction between fans and their favorite sports, creating immersive and engaging environments.
GLOB’s Focus on Deal Wins to Boost Top-Line Expansion
Globant remains at the forefront of strategic partnerships through its differentiated product portfolio. In July 2024, the company tied up with Amazon Web Services (“AWS”) to aid clients in leveraging RISE with SAP solution for upgrading on-premise SAP enterprise resource planning systems and migrating to the cloud. It has been collaborating with AWS since 2011, offering innovative solutions in cloud strategy, migration, modernization, advanced data analytics, product innovation and cloud engineering.
In May 2024, Sportian, the Sports & Entertainment subsidiary of Globant, allied with gaming and web3 expertise, StadioPlus. The initiative was undertaken to fuel digital transformation in the arena of sport and entertainment by harnessing the power of the latest technology, such as artificial intelligence, data analytics and immersive experiences, to create a more personalized and interactive environment for fans.
In March 2024, GLOB’s subsidiary — GeneXus — partnered with NVIDIA. Under the terms of collaboration, GLOB will integrate NVIDIA’s AI technology with its enterprise AI platform.
In the last reported quarter, GLOB’s revenues jumped 18.1% year over year to $587.5 million. The uptick was attributable to solid momentum across most of the business segments. Management highlighted a massive growth of 130% in AI-related sales in the first half of 2024. Its top customer, top five customers and top 10 customers accounted for 8.3%, 21% and 30.3% of revenues, respectively. The improvement in top-line expansion is likely to propel the stock trajectory upward.
Globant S.A. Price and Consensus
Globant S.A. price-consensus-chart | Globant S.A. Quote
Luxembourg-based Globant is a global provider of engineering, design and innovation services for clients. It is involved in the provision of data management solutions, quality assurance engagement strategy, mobile testing, test automation, load and performance testing and game testing services. It exited the June quarter with 29,112 headcounts, representing an increase of 12.2% year over year.
GLOB’s Zacks Rank & Stock Price Movement
At present, GLOB carries a Zacks Rank #3 (Hold). Globant’s shares were up 0.9% in the last day’s trading on Aug. 29. Shares of the company have lost 16.2% compared with the sub-industry’s decline of 5.7% in the year-to-date period.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks, Inc. (ANET - Free Report) , Harmonic Inc. (HLIT - Free Report) and Ubiquiti Inc. (UI - Free Report) . ANET and HLIT presently sport a Zacks Rank #1 (Strong Buy) each, whereas UI carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks supplies products to a prestigious set of customers, including Fortune 500 global companies in markets like cloud titans, enterprises, financials and specialty cloud service providers. It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, Arista delivered an earnings surprise of 8.25%.
Harmonic enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. HLIT delivered a trailing four-quarter average earnings surprise of 32.5%.
Ubiquiti company offers a comprehensive portfolio of networking products and solutions for service providers and enterprises. The company’s effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques.