Globant (NYSE:GLOB) Updates Q4 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.710-1.750 for the period, compared to the consensus earnings per share 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 %

Shares of Globant stock opened at $228.52 on Friday. The stock has a 50 day moving average price of $208.23 and a two-hundred day moving average price of $190.61. The stock has a market capitalization of $9.85 billion, a P/E ratio of 59.67, a PEG ratio of 2.91 and a beta of 1.39. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. During the same period in the previous year, the company earned $1.04 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Sell-side analysts anticipate that Globant will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLOB shares. Needham & Company LLC increased their price objective on shares of Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Scotiabank raised their target price on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Canaccord Genuity Group boosted their target price on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. UBS Group reiterated a “neutral” rating and set a $235.00 target price (up previously from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.00.

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.