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.

Globant Trading Down 11.2 %

GLOB stock opened at $203.16 on Friday. The business’s fifty day moving average price is $208.98 and its 200 day moving average price is $191.01. Globant has a 12-month low of $151.68 and a 12-month high of $251.50. The company has a market capitalization of $8.75 billion, a PE ratio of 53.04, a P/E/G ratio of 2.91 and a beta of 1.39.

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 the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 earnings per share. Research analysts predict that Globant will post 5.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLOB. JPMorgan Chase & Co. boosted their price target 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. Needham & Company LLC increased their price target on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank lifted their price objective on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Sandler decreased their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $228.50.

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.