Globant (NYSE:GLOB) Issues FY24 Earnings Guidance

Globant (NYSE:GLOBGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.20-6.50 for the period, compared to the consensus EPS estimate of $6.55. The company issued revenue guidance of $2.405-2.440 billion, compared to the consensus revenue estimate of $2.44 billion. Globant also updated its FY 2024 guidance to 6.200-6.500 EPS.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup reduced their price target on Globant from $235.00 to $215.00 and set a buy rating for the company in a research report on Friday. TD Cowen lowered their target price on shares of Globant from $235.00 to $220.00 and set a buy rating on the stock in a research note on Friday. Wedbush cut their price target on Globant from $250.00 to $200.00 and set an outperform rating for the company in a research note on Friday. HSBC lowered their price objective on Globant from $275.00 to $270.00 and set a buy rating on the stock in a research report on Wednesday, April 3rd. Finally, UBS Group boosted their price target on Globant from $230.00 to $240.00 and gave the stock a neutral rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $225.00.

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Globant Stock Performance

NYSE GLOB opened at $167.85 on Friday. Globant has a one year low of $148.23 and a one year high of $251.50. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35. The company’s 50-day simple moving average is $192.13 and its two-hundred day simple moving average is $211.59.

Globant (NYSE:GLOBGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a return on equity of 11.73% and a net margin of 7.62%. The business had revenue of $580.71 million during the quarter, compared to the consensus estimate of $579.70 million. Equities analysts expect that Globant will post 5.03 earnings per share for the current fiscal year.

Globant Company Profile

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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.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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