Globant (NYSE:GLOB) Updates Q4 Earnings Guidance

Globant (NYSE:GLOB) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.71-1.75 for the period, compared to the consensus earnings per share 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.

Globant Price Performance

Globant stock opened at $203.29 on Friday. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The company has a fifty day moving average price of $208.98 and a two-hundred day moving average price of $191.09. The company has a market cap of $8.76 billion, a PE ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS 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 analyst estimates of $586.72 million. Globant had a net margin of 7.20% and a return on equity of 11.87%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 EPS. Equities research analysts anticipate that Globant will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

GLOB has been the subject of several recent research reports. KeyCorp upped their target price on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price on the stock. UBS Group reissued a “neutral” rating and set a $235.00 price target (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Finally, TD Cowen boosted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $228.50.

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.