Globant (NYSE:GLOB) Issues FY24 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.30-6.50 for the period, compared to the consensus EPS estimate of $6.33. The company issued revenue guidance of $2.407-2.421 billion, compared to the consensus revenue estimate of $2.42 billion. Globant also updated its FY 2024 guidance to 6.300-6.500 EPS.

Wall Street Analyst Weigh In

Several research firms have issued reports on GLOB. The Goldman Sachs Group began coverage on shares of Globant in a research report on Monday, June 24th. They issued a buy rating and a $200.00 price target on the stock. Wedbush decreased their price target on shares of Globant from $250.00 to $200.00 and set an outperform rating on the stock in a research report on Friday, May 17th. TD Cowen lifted their price target on shares of Globant from $220.00 to $230.00 and gave the stock a buy rating in a research report on Friday. Citigroup lifted their price target on shares of Globant from $215.00 to $220.00 and gave the stock a buy rating in a research report on Friday, July 12th. Finally, StockNews.com lowered shares of Globant from a hold rating to a sell rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $219.56.

Globant Stock Up 5.1 %

Globant stock opened at $204.24 on Friday. The company’s fifty day simple moving average is $181.73 and its 200-day simple moving average is $192.55. Globant has a 12 month low of $151.68 and a 12 month high of $251.50. The stock has a market cap of $8.80 billion, a P/E ratio of 53.61, a P/E/G ratio of 1.98 and a beta of 1.41.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.18 by $0.01. Globant had a net margin of 7.62% and a return on equity of 11.60%. The business had revenue of $571.08 million for the quarter, compared to analysts’ expectations of $570.72 million. On average, equities research analysts expect that Globant will post 5 earnings per share 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.