Truist analyst Arvind Ramnani lowered the firm's price target on Globant to $44 from $54 and keeps a Hold rating on the shares after it's in line with Q1 results. The company's growth was driven by its AI-integrated delivery resonating with clients, driving growth with its top clients, though the firm remains neutral on the name monitoring the equilibrium between AI-led cannibalization of legacy T&M work and the high-margin expansion of new AI-native offerings, the analyst tells investors in a research note.
