Globant (NYSE:GLOB) Issues Q3 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.600-1.640 for the period, compared to the consensus earnings per share estimate of 1.610. The company issued revenue guidance of $611.0 million-$617.0 million, compared to the consensus revenue estimate of $618.4 million. Globant also updated its FY 2024 guidance to 6.300-6.500 EPS.

Globant Stock Up 5.1 %

Shares of NYSE:GLOB opened at $204.24 on Friday. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 53.61, a PEG ratio of 1.98 and a beta of 1.41. The business has a 50 day moving average price of $181.73 and a 200 day moving average price of $192.55. Globant has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. Analysts anticipate that Globant will post 5 EPS for the current year.

Wall Street Analyst Weigh In

GLOB has been the subject of a number of recent research reports. TD Cowen upped their target price on Globant from $220.00 to $230.00 and gave the company a buy rating in a research note on Friday. The Goldman Sachs Group started coverage on Globant in a report on Monday, June 24th. They issued a buy rating and a $200.00 target price for the company. Redburn Atlantic began coverage on Globant in a research note on Friday, May 24th. They issued a sell rating and a $135.00 price target on the stock. Citigroup lifted their price objective on Globant from $215.00 to $220.00 and gave the company a buy rating in a report on Friday, July 12th. Finally, Needham & Company LLC boosted their target price on shares of Globant from $200.00 to $245.00 and gave the company a buy rating in a research note on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $219.56.

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.