Globant (NYSE:GLOB) Updates Q4 2024 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. 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.

Globant Trading Down 3.5 %

NYSE GLOB traded down $8.31 on Thursday, reaching $228.52. The stock had a trading volume of 671,986 shares, compared to its average volume of 479,748. The company has a market capitalization of $9.85 billion, a price-to-earnings ratio of 61.83, a P/E/G ratio of 2.89 and a beta of 1.39. The business has a 50 day moving average price of $208.23 and a 200 day moving average price of $190.61. Globant has a 1 year low of $151.68 and a 1 year high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same quarter in the prior year, the company posted $1.04 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Globant will post 5.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GLOB. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. KeyCorp increased their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. TD Cowen increased their price target on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Needham & Company LLC increased their price objective on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.00.

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.