Globant (NYSE:GLOB) Releases Q4 Earnings Guidance

Globant (NYSE:GLOB) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.60 for the period, compared to the consensus estimate of $1.61. The company issued revenue guidance of $579 million, compared to the consensus revenue estimate of $578.72 million. Globant also updated its FY 2023 guidance to $5.72- EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GLOB shares. JPMorgan Chase & Co. boosted their price target on shares of Globant from $194.00 to $236.00 and gave the company an overweight rating in a report on Tuesday, August 22nd. TD Cowen decreased their price objective on Globant from $207.00 to $205.00 and set an outperform rating for the company in a research note on Friday, August 18th. Scotiabank initiated coverage on Globant in a research note on Wednesday, August 23rd. They issued a sector outperform rating and a $210.00 target price on the stock. Bank of America started coverage on shares of Globant in a research report on Wednesday, October 11th. They set a neutral rating and a $202.00 target price for the company. Finally, KeyCorp cut their price target on shares of Globant from $230.00 to $218.00 and set an overweight rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $217.57.

Globant Price Performance

NYSE:GLOB opened at $183.17 on Friday. The firm has a market capitalization of $7.74 billion, a P/E ratio of 53.25 and a beta of 1.31. The company’s fifty day moving average price is $189.38 and its 200-day moving average price is $180.95. Globant has a 1-year low of $135.40 and a 1-year high of $210.00.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 17th. The information technology services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.06). Globant had a net margin of 7.74% and a return on equity of 11.40%. The company had revenue of $497.53 million during the quarter, compared to analyst estimates of $496.47 million. Equities analysts anticipate that Globant will post 4.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GLOB. Kestra Advisory Services LLC purchased a new stake in shares of Globant during the 2nd quarter worth about $246,000. Tower Research Capital LLC TRC boosted its position in Globant by 72.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,365 shares of the information technology services provider’s stock worth $245,000 after purchasing an additional 572 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in Globant by 10.5% in the first quarter. Orion Portfolio Solutions LLC now owns 769 shares of the information technology services provider’s stock valued at $202,000 after purchasing an additional 73 shares during the period. Lazard Asset Management LLC increased its position in shares of Globant by 268.5% in the first quarter. Lazard Asset Management LLC now owns 678 shares of the information technology services provider’s stock valued at $177,000 after buying an additional 494 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock worth $123,000 after buying an additional 85 shares during the period. 91.49% of the stock is owned by institutional investors and hedge funds.

About Globant

Globant SA operates as a technology services company worldwide. The company offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.