Globant (NYSE:GLOB) Issues Q4 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GLOB. TD Cowen upped their target price on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, August 16th. UBS Group reaffirmed 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. Canaccord Genuity Group boosted their price target on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. KeyCorp upped their price target on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.00.

Globant Stock Performance

Globant stock opened at $228.52 on Friday. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 59.67, a price-to-earnings-growth ratio of 2.91 and a beta of 1.39. Globant has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The stock’s fifty day moving average is $208.23 and its two-hundred day moving average is $190.61.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the prior year, the firm earned $1.04 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Globant will post 5.06 EPS for the current fiscal 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.