Globant (NYSE:GLOB) Issues Q4 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its fourth quarter 2024 earnings guidance on Thursday. 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 %

NYSE:GLOB traded down $8.31 during mid-day trading on Thursday, reaching $228.52. The company’s stock had a trading volume of 671,986 shares, compared to its average volume of 479,748. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The stock has a fifty day moving average of $208.23 and a 200-day moving average of $190.61. The firm has a market capitalization of $9.85 billion, a PE ratio of 61.83, a price-to-earnings-growth ratio of 2.89 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 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter in the prior year, the company earned $1.04 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. On average, analysts expect that Globant will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of analyst reports. UBS Group reiterated a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Jefferies Financial Group raised their price target on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. KeyCorp raised their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $240.00 price target (up from $238.00) on shares of Globant in a research report 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 stock. Based on data from MarketBeat, Globant 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.