GLOBE Telecom Inc. is looking to its fintech and digital infrastructure businesses for growth as it expands beyond its traditional telecommunications operations, an analyst said.
Joel de la Peña, market strategist and chief trader at H.E. Bennett Securities Inc., identified Mynt, the parent company of e-wallet platform GCash, and Globe’s data center business through ST Telemedia Global Data Centres (STT GDC) Philippines as two key digital growth pillars for the telecommunications company.
He noted that Globe’s core telecommunications business remained resilient, with about 67.7 million mobile subscribers, 39.6 million mobile data users, 2.4 million home broadband customers and more than 632,000 landline subscribers as of end-June 2026.
De la Peña said Globe’s market performance had been weighed down by broader market weakness and the overhang from the Konektadong Pinoy Law but added that it does not fully reflect longer-term growth prospects.
“Globe’s present market trend is less about its fundamentals but more about having been caught in the macro wave that has been hitting even other exchanges, the world over,” he added.
The company’s growth outlook was said to be increasingly linked to rising demand for mobile data, cloud services and digital transactions in the Philippines.
“The true investment rationale for Globe lies in a profound structural shift,” de la Peña said.
The analyst pointed to Mynt as one of Globe’s key digital assets. The parent company of GCash has expanded beyond digital payments into services such as lending, microinsurance and wealth management.
Globe remains the largest shareholder in Mynt, giving the telco exposure to the continued expansion of the country’s digital financial services market.
The other growth pillar is digital infrastructure through STT GDC, which operates data centers serving enterprise and hyperscale customers.
De la Peña said the Philippine data center market remained underpenetrated, with colocation demand projected to more than triple to 155 megawatts by 2030, equivalent to a 28-percent compound annual growth rate.
STT GDC is developing the 124-megawatt STT Fairview campus in Metro Manila. De la Peña said the first level of data halls at the facility has been fully sold, while hyperscalers and artificial intelligence-related customers are already in discussions for succeeding levels.
The data center business has also secured 40.5 megawatts of renewable energy through a 10-year partnership with MPower, he added.
Globe shares have traded within a 52-week range of P1,401.00 to P1,964.00, de la Peña said, highlighting that the stock’s recent performance had been affected by broader market pressures and earnings concerns.
He added that technical indicators pointed to a short-term sell or neutral consolidation stance, with support levels at P1,583.00 to P1,534.50 and resistance at P1,638.50 to P1,753.50, with the stock’s pivot zone seen at P1,598.00.
Analyst consensus puts Globe’s average price target at P2,242.22 per share, based on the figures cited by de la Pena.
For de la Peña, Globe’s digital businesses provide exposure to the country’s expanding fintech and digital infrastructure markets while its telecommunications operations continue to provide a recurring revenue base.
“Globe Telecom is no longer just a telecommunications provider but an investment opportunity that presents a rare combination of defensive core income with exposure to growing digital assets,” he said.
Globe shares on Monday surged P9.00, or 0.58 percent, to close at P1,559.00 each.
NAZYLEN JOY MABANGLO
