Globant (NYSE:GLOB) Releases FY 2024 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its FY 2024 earnings guidance on Thursday morning. 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 Trading Down 3.5 %

Globant stock opened at $228.52 on Friday. The firm has a market capitalization of $9.85 billion, a P/E ratio of 59.67, a P/E/G ratio of 2.91 and a beta of 1.39. Globant has a twelve month low of $151.68 and a twelve month high of $251.50. The stock’s fifty day simple moving average is $208.23 and its 200-day simple moving average is $190.61.

Globant (NYSE:GLOB) last issued 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. The company had revenue of $587.46 million for 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%. Globant’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 EPS. Sell-side analysts predict that Globant will post 5.06 earnings per share for the current year.

Analysts Set New Price Targets

GLOB has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price target on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC upped their price objective on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and set a $240.00 target price (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. Finally, UBS Group restated a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.