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Globant s (NYSE:GLOB) stock price surged nearly 70% over the past 12 months as the IT services and software company stayed strong throughout the pandemic. Demand for its services, which are fulfilled by a growing army of IT professionals, remained elevated as more people worked remotely and companies strengthened their online services.
But can Globant maintain that momentum this year? Let s examine its business, growth rates, and valuations to find out.
How does Globant make money?
Globant was founded in Argentina in 2003 and became the first Latin American software company to go public on the NYSE in 2014.
However, the company is now based in Luxembourg, and it generated 70% of its revenue from North America last quarter. Latin America and other countries accounted for another 22.4% of its revenue, while the remaining 7.6% came from Europe.