Globant (NYSE:GLOB) Releases 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.

Analysts Set New Price Targets

GLOB has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock. Finally, Scotiabank lifted their price target on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.50.

Globant Stock Performance

Shares of Globant stock opened at $203.29 on Friday. The stock has a market cap of $8.76 billion, a P/E ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39. The stock’s fifty day moving average is $208.98 and its 200 day moving average is $191.09. Globant has a one year low of $151.68 and a one year high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The firm had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.87% and a net margin of 7.20%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Analysts predict that Globant will post 5.06 EPS for the current 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.