Globant (NYSE:GLOB) Issues Quarterly Earnings Results

Globant (NYSE:GLOB) posted its quarterly earnings results on Thursday. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39), Zacks reports. Globant had a net margin of 7.20% and a return on equity of 11.65%. The company had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant updated its FY 2025 guidance to 6.800-7.200 EPS and its Q1 2025 guidance to 1.550-1.630 EPS.

Globant Stock Down 23.8 %

Shares of GLOB traded down $50.11 during trading hours on Friday, reaching $160.07. The stock had a trading volume of 1,679,952 shares, compared to its average volume of 518,294. The company has a market cap of $6.90 billion, a P/E ratio of 41.79, a P/E/G ratio of 2.46 and a beta of 1.39. The firm has a 50-day moving average of $215.37 and a 200 day moving average of $210.82. Globant has a 52 week low of $151.68 and a 52 week high of $238.32.

Analyst Ratings Changes

Several research firms recently issued reports on GLOB. Citigroup boosted their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday. Needham & Company LLC reduced their price target on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. One research analyst has 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 stock has an average rating of “Moderate Buy” and a consensus target price of $227.06.

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.