Globant (NYSE:GLOB) Posts Quarterly Earnings Results

Globant (NYSE:GLOB) announced its 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 return on equity of 11.65% and a net margin of 7.20%.

Globant Stock Down 3.3 %

Shares of NYSE:GLOB traded down $7.18 during trading on Thursday, reaching $210.43. The stock had a trading volume of 1,234,554 shares, compared to its average volume of 498,045. Globant has a 52 week low of $151.68 and a 52 week high of $238.32. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 54.94, a P/E/G ratio of 2.52 and a beta of 1.39. The stock has a fifty day simple moving average of $215.55 and a two-hundred day simple moving average of $210.82.

Analyst Ratings Changes

Several research firms recently commented on GLOB. Canaccord Genuity Group restated a “hold” rating and set a $205.00 price target on shares of Globant in a report on Monday, November 18th. TD Cowen raised their price target on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Needham & Company LLC restated a “buy” rating and set a $265.00 price target on shares of Globant in a report on Friday, January 24th. Piper Sandler decreased their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus target price of $230.28.

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.