One way to diversify your portfolio is to invest in international stocks. A good candidate is Globant, a highly rated global provider of tech services. On Thursday, the Relative Strength (RS) Rating for Globant stock climbed to 75, up from 70 the day before. The rating upgrade comes after Globant stock shot up 49% in the last four months.
The upgraded 75 RS Rating means that Globant stock topped 75% of all stocks for price performance over the past year. It's approaching a crucial benchmark too. Market research reveals that the best stocks tend to have an 80 or better RS Rating in the early stages of their moves. See if Globant can continue to rebound and clear that threshold.
Looking For Winning Stocks? Try This Simple Routine
Globant Stock Ratings Shine
Luxembourg-based Globant provides information technology data and services to companies in the Americas, Europe and Australia. Among those countries are: the U.S., Argentina, Uruguay, Colombia, Brazil, Mexico and Peru. In Europe it operates in Poland, Germany and Italy. Among its other key ratings, Globant stock has a powerful 94 Earnings Per Share Rating, out of 99. It matches that with a 94 Composite Rating.
The Composite Rating combines five separate proprietary IBD ratings, based on key fundamental and technical criteria, into one easy-to-use score. The best growth stocks have a Composite Rating of 90 or better.
Meanwhile, reflecting strong fundamentals, Globant stock sports an A SMR Rating (sales + profit margins + return on equity) on an A-to-E scale. Revenue grew 16% last quarter to $497.5 million. The prior three quarters its revenue grew 34%, 29% and 18%. Earnings rose 11% last quarter to $1.36 per share, up from 8% growth in the prior report.
Looking To Complete Cup With Handle
Globant stock is trying to complete a long cup without handle formation with a 240 buy point. It dropped to 135.41 at the bottom of the cup in mid-May. From there it rose the right side of the cup to trade at just over 203 Thursday afternoon. See if the stock can break out in heavy trading.
Globant stock earns the No. 3 rank among its peers in the Computer-Technical Services industry group. ePlus and GigaCloud Technology are also among the group's highest-rated stocks.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
The unique IBD Relative Strength Rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
