12 High Growth International Stocks to Invest in Now

7. Globant S.A. (NYSE:GLOB)

10-Year Revenue Growth Rate: 28.57%

Number of Hedge Fund Holders: 29

Globant S.A. (NYSE:GLOB) is a technology services company that specializes in creating digital solutions for businesses. It focuses on the ‘Digital Journeys’ of other companies by providing them with mobile apps, and web applications, and integrating advanced technologies like artificial intelligence and big data. Based in Luxembourg, the company operates in multiple countries, with a significant portion of its business coming from North America.

On January 21, Jefferies analyst Surinder Thind increased his price target for Globant S.A. (NYSE:GLOB) from $240 to $250, while maintaining a Buy rating on the stock. Thind noted that the firm’s projects for the Technology and Information Services group remain largely unchanged, although they note that a stronger U.S. dollar may negatively impact revenues.

The company has been doing good mainly due to its AI solutions. During the fiscal third quarter of 2024, it generated $614.67 million in revenue, up 12.72% year-over-year. The growth was driven by its AI solutions as the company has grown its AI-related revenue by more than 1120% during the first nine months of fiscal 2024.

Moreover, Globant S.A. (NYSE:GLOB) is also expanding its reach internationally with significant growth coming from the Middle East and APAC regions. During the quarter management added 331 new customers, which are expected to contribute $1 million annually. It is one of the high-growth international stocks to invest in now.

Polen Global Growth Strategy stated the following regarding GLOBANT S.A. (NYSE:GLOB) in its Q3 2024 investor letter:

“We added to several existing positions during the quarter, including Shopify, GLOBANT S.A. (NYSE:GLOB), and Paycom Software. While we’re cognizant of Globant’s challenging IT Consulting industry backdrop, we think the valuation is attractive relative to its long-term growth potential as the company continues to deliver best-in-class revenue and profit growth, bucking broader industry trends. Finally, we modestly added to our small position in Paycom Software following our recent meeting with the founder/CEO and CFO.”