Globant (NYSE:GLOB) Issues FY 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.370-6.430 for the period, compared to the consensus earnings per share estimate of 6.400. 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 Q4 guidance to $1.71-1.75 EPS.

Globant Stock Down 3.5 %

Shares of NYSE GLOB opened at $228.52 on Friday. The firm has a 50-day moving average price of $208.23 and a 200 day moving average price of $190.61. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of 59.67, a price-to-earnings-growth ratio of 2.91 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.04 EPS. Equities research analysts expect that Globant will post 5.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GLOB shares. KeyCorp raised their price target on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Citigroup lifted their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. UBS Group reissued a “neutral” rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Canaccord Genuity Group upped their target price on Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Finally, Scotiabank raised their price target on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. One equities 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $227.00.

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.