Globant (NYSE:GLOB) Issues Q4 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.710-1.750 for the period, compared to the consensus earnings per share estimate of 1.740. The company issued revenue guidance of $642.0 million-$648.0 million, compared to the consensus revenue estimate of $643.0 million. Globant also updated its FY 2024 guidance to 6.370-6.430 EPS.

Globant Price Performance

Shares of GLOB stock traded down $8.31 during trading hours on Thursday, hitting $228.52. The stock had a trading volume of 671,986 shares, compared to its average volume of 479,748. The firm has a market capitalization of $9.85 billion, a PE ratio of 61.83, a PEG ratio of 2.89 and a beta of 1.39. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The stock’s 50 day moving average is $208.23 and its 200 day moving average is $190.61.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. As a group, equities analysts predict that Globant will post 5.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GLOB shares. Piper Sandler restated an “overweight” rating and set a $240.00 price target (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. Needham & Company LLC increased their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. TD Cowen increased their price objective on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Citigroup raised their price target on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $227.00.

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.