Globant (NYSE:GLOB) Issues Q4 Earnings Guidance

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

Analysts Set New Price Targets

GLOB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective on the stock. Needham & Company LLC increased their price target on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday. UBS Group reissued a “neutral” rating and set a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Jefferies Financial Group increased their target price on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Finally, TD Cowen boosted their price target on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $228.50.

Globant Trading Down 11.2 %

GLOB stock opened at $203.16 on Friday. The company’s 50-day moving average price is $208.98 and its 200 day moving average price is $191.01. Globant has a 52 week low of $151.68 and a 52 week high of $251.50. The company has a market cap of $8.75 billion, a P/E ratio of 53.04, a P/E/G ratio of 2.91 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, beating analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $1.04 earnings per share. On average, equities research analysts expect that Globant will post 5.06 earnings per share for the current year.

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.