Globant (NYSE:GLOB) Updates Q4 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GLOB shares. Scotiabank upped their target price on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a 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 research note on Tuesday, August 20th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. KeyCorp increased their price target on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.00.

Globant Price Performance

Shares of GLOB traded down $8.04 during midday trading on Thursday, hitting $228.79. 669,127 shares of the company traded hands, compared to its average volume of 479,738. The stock has a 50-day moving average of $208.23 and a 200-day moving average of $190.61. Globant has a one year low of $151.68 and a one year high of $251.50. The firm has a market cap of $9.86 billion, a P/E ratio of 61.83, a PEG ratio of 2.89 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same period last year, the firm earned $1.04 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Sell-side analysts forecast that Globant will post 5.06 EPS for the current fiscal year.

About Globant

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.