Globant (NYSE:GLOB) Releases Earnings Results, Beats Estimates By $0.01 EPS

Globant (NYSE:GLOB) announced its quarterly earnings results on Thursday. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01, Briefing.com reports. Globant had a net margin of 7.62% and a return on equity of 11.60%. The firm had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same period last year, the business earned $1.04 EPS. Globant’s revenue for the quarter was up 18.1% compared to the same quarter last year.

Globant Price Performance

Shares of NYSE GLOB opened at $204.24 on Friday. The firm’s 50-day moving average is $181.73 and its two-hundred day moving average is $192.55. The company has a market capitalization of $8.80 billion, a PE ratio of 53.61, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. Globant has a 12-month low of $151.68 and a 12-month high of $251.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GLOB shares. Citigroup raised their target price on shares of Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. KeyCorp lifted their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Scotiabank raised their price target on Globant from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Mizuho reduced their price objective on Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $219.56.

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.