Globant (NYSE:GLOB) Issues Q4 2024 Earnings Guidance

Globant (NYSE:GLOB) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.710-1.750 for the period, compared to the consensus earnings per share estimate of 1.740. The company issued revenue guidance of $642.0 million-$648.0 million, compared to the consensus revenue estimate of $643.0 million. Globant also updated its FY 2024 guidance to 6.370-6.430 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GLOB. Jefferies Financial Group increased their target price on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Canaccord Genuity Group increased their price objective on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Piper Sandler lowered their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $228.50.

Globant Price Performance

NYSE:GLOB opened at $203.29 on Friday. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 2.49 and a beta of 1.39. The business has a 50 day simple moving average of $208.98 and a 200-day simple moving average of $191.09. Globant has a 1 year low of $151.68 and a 1 year high of $251.50.

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 analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.87% and a net margin of 7.20%. The company 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 company earned $1.04 earnings per share. Globant’s revenue was up 18.1% on a year-over-year basis. As a group, analysts expect that Globant will post 5.06 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.