Globant (NYSE:GLOB) Issues Q4 Earnings Guidance

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

Globant Stock Down 11.1 %

GLOB opened at $203.29 on Friday. The firm has a market cap of $8.76 billion, a PE ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39. The business has a fifty day simple moving average of $208.98 and a 200-day simple moving average of $191.09. Globant has a fifty-two week low of $151.68 and a fifty-two week 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.87% and a net margin of 7.20%. The firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the business posted $1.04 EPS. Globant’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that Globant will post 5.06 EPS for the current fiscal year.

Analysts Set New Price Targets

GLOB has been the subject of several research analyst reports. Citigroup upped their price target 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. UBS Group reissued a “neutral” rating and set a $235.00 price target (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Piper Sandler decreased their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research report on Friday. KeyCorp lifted their target price on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, Needham & Company LLC raised their price target on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

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.