Globant (NYSE:GLOB) Issues FY 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.300-6.500 for the period, compared to the consensus EPS estimate of 6.360. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Globant also updated its FY24 guidance to $6.30-6.50 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GLOB. The Goldman Sachs Group initiated coverage on shares of Globant in a research note on Monday, June 24th. They issued a buy rating and a $200.00 price objective on the stock. Scotiabank raised their target price on shares of Globant from $190.00 to $200.00 and gave the company a sector perform rating in a research note on Monday, July 29th. Needham & Company LLC restated a buy rating and set a $200.00 price target on shares of Globant in a report on Thursday, June 13th. TD Cowen cut their price objective on shares of Globant from $235.00 to $220.00 and set a buy rating on the stock in a research report on Friday, May 17th. Finally, Wedbush cut their target price on shares of Globant from $250.00 to $200.00 and set an outperform rating for the company in a research report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Globant presently has a consensus rating of Moderate Buy and an average target price of $217.28.

Globant Price Performance

Shares of NYSE:GLOB traded up $3.21 during mid-day trading on Thursday, hitting $194.37. The company had a trading volume of 526,684 shares, compared to its average volume of 509,055. The company has a market capitalization of $8.37 billion, a PE ratio of 51.02, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. Globant has a one year low of $151.68 and a one year high of $251.50. The firm has a fifty day moving average price of $179.95 and a 200 day moving average price of $193.17.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Research analysts expect that Globant will post 5 earnings per share for the current fiscal year.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.