Globant S A Stock Price, News & Analysis

DataArt has secured a $75 million minority growth investment from FTV Capital, marking a significant milestone following its record revenue growth in 2021, which exceeded $290 million. This funding aims to enhance DataArt's global delivery capabilities and innovate in cloud and data software services. Despite the geopolitical risks, the firm demonstrated resilience by hiring over 870 new employees in 2022 and relocating 1,300 staff due to the Ukraine conflict, ensuring uninterrupted service delivery.

Globant has announced the opening of its first office in Toronto, Canada, expanding its presence in North America. This new facility will enhance service offerings to clients in various industries, particularly retail and financial services. The company plans to invest over $20M USD in Canada and create 200 new tech jobs over the next three years. This strategic move aims to strengthen Globant's partnerships and accelerate digital transformation for North American businesses.

Zoovu, an AI-driven e-commerce platform, has secured $169 million in funding led by FTV Capital. This investment aims to enhance Zoovu's market strategy and data-driven product platform primarily in the U.S., addressing the increasing demand for seamless online shopping experiences. As e-commerce grows, with 20% of retail sales attributed to online purchases, Zoovu’s solutions seek to minimize customer confusion and boost conversion rates for brands such as 3M and Microsoft. The company reported 85% growth in 2020 and 70% growth in 2021.

Globant recently published its Sentinel Report on the metaverse, revealing that 73% of respondents find it accessible, yet only 26% have participated in a metaverse experience. The report underscores the metaverse's potential to transform businesses across various sectors, enhancing virtual presence and client engagement. Key insights include that 75% of respondents believe it isn't just for the younger generation and 69% see its importance in remote work. Globant aims to help organizations navigate their digital transformation in this evolving landscape.

Globant (NYSE: GLOB) is set to host Tech N' Fest 2022 on June 1 in Mexico City, with over 7,000 participants already registered. This hybrid event connects technology, creativity, and innovation through talks and panels on various topics including Gaming, AI, and NFTs. Key speakers include industry leaders from Augoor, Open Pay Mexico, and META. The event aims to foster community engagement and showcase technological advancements. Registration for both in-person and online participation remains open.

Globant (NYSE: GLOB) announced expansion of its Be Kind Tech Fund partnerships with The George Washington University, Riverwood Capital, IDB Lab, and Nazca. This corporate venture fund, focused on supporting startups addressing technology misuse, aims to amplify its global impact through collaboration with educational and nonprofit sectors. The partnership emphasizes addressing issues like AI bias and online harassment while fostering innovative tech solutions.

Globant (NYSE: GLOB) reported strong Q1 2022 results, with revenues reaching $401.4 million, signifying a 48.6% year-over-year growth. The IFRS Diluted EPS was $0.86, while Non-IFRS Diluted EPS stood at $1.19. The Gross Profit Margin slightly decreased to 38.0%, and Profit from Operations Margin improved to 12.6%. For Q2 2022, estimated revenues are expected to be at least $425.5 million, reflecting a 39.4% growth rate. The forecast for the full year is set at $1,768 million, or 36.3% growth.

Globant (NYSE: GLOB) has launched its Smart Payments Studio to aid companies in developing innovative payment solutions. This initiative incorporates technologies like Blockchain, Metaverse, and Gamification. The Studio offers services in Digital Commerce, Alternative Payments, Rewards & Loyalty, and Payments & Card Analytics, focusing on enhancing user experiences and driving business growth. With over 23,500 employees across 18 countries, Globant continues to position itself as a leader in digital transformation.

FTV Capital has appointed Kapil Venkatachalam as partner, focusing on investments in B2B software and technology-enabled services. This move follows FTV's successful close of a $2.3 billion fund in March 2022. With over 15 years at TCV, Kapil’s expertise aims to enhance FTV's investment strategy amidst growing demand for innovative solutions. FTV Capital, founded in 1998, has raised $6.2 billion and invested in over 130 companies, including Enfusion (NYSE: ENFN) and Globant (NYSE: GLOB).