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 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.

Wall Street Analyst Weigh In

GLOB has been the topic of several research reports. Canaccord Genuity Group increased their price target on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, August 21st. KeyCorp upped 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, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective on the stock. Finally, Jefferies Financial Group upped their target price on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.50.

Globant Price Performance

Shares of NYSE GLOB opened at $203.16 on Friday. Globant has a 1-year low of $151.68 and a 1-year high of $251.50. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 2.91 and a beta of 1.39. The business has a 50-day moving average of $208.98 and a 200-day moving average of $191.01.

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