Globant (NYSE:GLOB) Updates FY19 Earnings Guidance

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Globant (NYSE:GLOB) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.19-$2.25 for the period, compared to the Thomson Reuters consensus estimate of $2.21. The company issued revenue guidance of $654-$660 million, compared to the consensus revenue estimate of $643.78 million.Globant also updated its FY 2019 guidance to $2.19-2.25 EPS.

Several research firms have recently commented on GLOB. Zacks Investment Research downgraded shares of Globant from a buy rating to a hold rating in a research note on Friday, August 9th. Citigroup downgraded shares of Globant from a buy rating to a neutral rating and lifted their price objective for the stock from $93.00 to $115.00 in a research note on Wednesday, July 17th. Itau BBA Securities upgraded shares of Globant from a market perform rating to an outperform rating and lifted their price objective for the stock from $74.00 to $113.00 in a research note on Friday, June 21st. Finally, Wedbush reiterated an outperform rating and set a $90.00 price objective (up from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $88.00.

Shares of NYSE:GLOB traded up $0.48 on Thursday, hitting $101.11. 454,578 shares of the company were exchanged, compared to its average volume of 297,303. Globant has a 1-year low of $46.30 and a 1-year high of $112.33. The stock’s 50 day moving average price is $105.85 and its 200 day moving average price is $86.55. The company has a current ratio of 1.69, a quick ratio of 2.29 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.64 billion, a P/E ratio of 72.74 and a beta of 0.84.

Globant Company Profile

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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