Globant (NYSE:GLOB) Releases Q4 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.71-1.75 for the period, compared to the consensus EPS estimate of $1.74. The company issued revenue guidance of $642-648 million, compared to the consensus revenue estimate of $644.23 million. Globant also updated its FY 2024 guidance to 6.370-6.430 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GLOB shares. Canaccord Genuity Group increased their target price on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. KeyCorp boosted their price objective on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. Needham & Company LLC lifted their price target on shares of Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

Globant Trading Down 3.5 %

NYSE:GLOB opened at $228.52 on Friday. The stock has a 50-day moving average price of $208.23 and a two-hundred day moving average price of $190.61. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 59.67, a PEG ratio of 2.91 and a beta of 1.39.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same quarter last year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Sell-side analysts forecast that Globant will post 5.06 earnings per share for the current year.

Globant Company Profile

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.