Globant (NYSE:GLOB) Releases 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GLOB shares. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. TD Cowen lifted their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC increased their target price on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp lifted their price objective on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Citigroup upped their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The business’s 50-day moving average price is $208.98 and its two-hundred day moving average price is $191.01. The firm has a market cap of $8.75 billion, a PE ratio of 53.04, a P/E/G ratio of 2.91 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its quarterly earnings data 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. The business had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. Globant’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. On average, analysts forecast 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.