Globant (NYSE:GLOB) Updates Q4 2024 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.710-1.750 for the period, compared to the consensus EPS 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 Stock Down 3.5 %

Shares of Globant stock traded down $8.31 during mid-day trading 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 cap of $9.85 billion, a P/E ratio of 61.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.39. The firm has a 50-day moving average of $208.23 and a two-hundred day moving average of $190.61. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm 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 quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. Sell-side analysts expect that Globant will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen increased their price objective on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Scotiabank increased their target price on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $240.00 price target (up from $238.00) on shares of Globant in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.