Globant (NYSE:GLOB) Issues Q4 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.71-1.75 for the period, compared to the consensus estimate of $1.74. The company issued revenue guidance of $642-648 million, compared to the consensus revenue estimate of $644.23 million.

Globant Price Performance

NYSE GLOB traded down $8.04 during trading hours on Thursday, reaching $228.79. 669,127 shares of the stock traded hands, compared to its average volume of 479,738. The stock has a 50 day simple moving average of $208.23 and a two-hundred day simple moving average of $190.61. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The company has a market cap of $9.86 billion, a price-to-earnings ratio of 61.83, a price-to-earnings-growth ratio of 2.89 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its 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. The business 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%. Globant’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share. On average, sell-side analysts forecast that Globant will post 5.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on GLOB. Needham & Company LLC raised their price objective on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Scotiabank lifted their price target on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. UBS Group restated a “neutral” rating and issued a $235.00 price objective (up previously from $225.00) on shares of Globant in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.00.

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.