Globant (NYSE:GLOB) Announces Quarterly Earnings Results, Misses Expectations By $0.39 EPS

Globant (NYSE:GLOB) released its quarterly earnings results on Thursday. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39), Zacks reports. Globant had a net margin of 7.20% and a return on equity of 11.65%.

Globant Price Performance

NYSE GLOB traded down $7.18 during trading on Thursday, reaching $210.43. 1,235,569 shares of the company’s stock traded hands, compared to its average volume of 498,045. Globant has a 12-month low of $151.68 and a 12-month high of $238.32. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 54.94, a price-to-earnings-growth ratio of 2.52 and a beta of 1.39. The company’s 50 day simple moving average is $215.55 and its two-hundred day simple moving average is $210.82.

Analyst Ratings Changes

A number of research analysts recently commented on GLOB shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 price target on shares of Globant in a report on Friday, January 24th. TD Cowen raised their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. UBS Group cut their target price on Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Scotiabank lifted their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler lowered their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.28.

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.