Globant (NYSE:GLOB) Releases FY 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its FY 2024 earnings guidance on Thursday. 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 Upgrades and Downgrades

GLOB has been the subject of several analyst reports. Jefferies Financial Group raised their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Piper Sandler reaffirmed an “overweight” rating and set a $240.00 price objective (up previously from $238.00) on shares of Globant in a research note on Friday, August 16th. UBS Group reiterated a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Citigroup boosted their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Scotiabank increased their price objective on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.00.

Globant Price Performance

NYSE GLOB traded down $8.31 during trading on Thursday, hitting $228.52. 671,986 shares of the company’s stock traded hands, compared to its average volume of 479,748. The stock has a fifty day moving average of $208.23 and a two-hundred day moving average of $190.61. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The firm has a market cap of $9.85 billion, a P/E ratio of 61.83, a PEG ratio of 2.89 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same period last year, the company earned $1.04 EPS. Globant’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts expect that Globant will post 5.06 earnings per share 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.