Globant (NYSE:GLOB) Issues FY 2024 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.370-6.430 for the period, compared to the consensus EPS estimate of 6.400. The company issued revenue guidance of $2.4 billion-$2.4 billion, compared to the consensus revenue estimate of $2.4 billion. Globant also updated its Q4 guidance to $1.71-1.75 EPS.

Analyst Ratings Changes

Several analysts have recently commented on GLOB shares. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. Needham & Company LLC raised their price objective on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen upped their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp boosted their price target on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Finally, UBS Group restated a “neutral” rating and set a $235.00 price objective (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.50.

Globant Stock Down 11.1 %

Shares of NYSE GLOB opened at $203.29 on Friday. The company has a market capitalization of $8.76 billion, a PE ratio of 53.08, a PEG ratio of 2.49 and a beta of 1.39. The stock’s 50 day moving average price is $208.98 and its 200-day moving average price is $191.09. Globant has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the prior year, the company earned $1.04 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, research analysts expect 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.