Globant (GLOB) to Release Quarterly Earnings on Thursday

Globant (NYSE:GLOB) will release its earnings data after the market closes on Thursday, May 16th. Analysts expect Globant to post earnings of $1.53 per share for the quarter. Globant has set its Q1 guidance at $1.53 EPS and its FY24 guidance at $6.50 EPS.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The company had revenue of $580.71 million for the quarter, compared to analysts’ expectations of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. On average, analysts expect Globant to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Globant Price Performance

GLOB opened at $173.06 on Friday. The firm has a market capitalization of $7.46 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. Globant has a one year low of $135.40 and a one year high of $251.50. The company has a fifty day moving average price of $196.93 and a 200-day moving average price of $211.51.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GLOB shares. Scotiabank cut shares of Globant from a “sector outperform” rating to a “sector perform” rating and set a $200.00 price objective on the stock. in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Needham & Company LLC lifted their target price on shares of Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Canaccord Genuity Group restated a “hold” rating and set a $230.00 price target on shares of Globant in a research report on Tuesday, February 20th. Finally, KeyCorp lifted their price objective on Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.59.

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.