Globant (NYSE:GLOB) Updates FY 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 6.370-6.430 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

A number of research firms have issued reports on GLOB. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target for the company. Scotiabank raised their target price on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price target on shares of Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.00.

Globant Trading Down 3.5 %

NYSE:GLOB traded down $8.31 on Thursday, hitting $228.52. 671,986 shares of the company’s stock traded hands, compared to its average volume of 479,748. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The firm has a 50-day moving average price of $208.23 and a 200-day moving average price of $190.61. The company has a market cap of $9.85 billion, a PE ratio of 61.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The firm 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%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 EPS. On average, research analysts forecast that Globant will post 5.06 EPS for the current fiscal year.

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.