Globant (NYSE:GLOB – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $5.06- for the period, compared to the consensus earnings per share estimate of $5.05. The company issued revenue guidance of $1.78B-, compared to the consensus revenue estimate of $1.78 billion. Globant also updated its FY22 guidance to $5.06 EPS.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on GLOB shares. The Goldman Sachs Group lowered their target price on Globant from $290.00 to $250.00 and set a buy rating on the stock in a research note on Thursday, September 29th. Cowen decreased their price target on Globant from $248.00 to $210.00 and set an outperform rating on the stock in a research note on Wednesday, October 19th. Cowen decreased their price target on Globant from $248.00 to $210.00 and set an outperform rating on the stock in a research note on Wednesday, October 19th. KeyCorp started coverage on Globant in a research note on Monday, September 12th. They issued an overweight rating and a $291.00 price target on the stock. Finally, Piper Sandler decreased their price target on Globant from $249.00 to $219.00 and set an overweight rating on the stock in a research note on Friday, October 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $248.13.
Globant Trading Down 3.6 %
NYSE:GLOB traded down $6.77 on Thursday, hitting $181.52. 357,184 shares of the stock were exchanged, compared to its average volume of 345,029. The stock has a market cap of $7.60 billion, a PE ratio of 60.31 and a beta of 1.41. The stock has a fifty day moving average of $187.93 and a 200-day moving average of $194.36. Globant has a fifty-two week low of $155.01 and a fifty-two week high of $324.29.
Globant (NYSE:GLOB – Get Rating) last announced its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.20 by $0.02. The company had revenue of $429.30 million during the quarter, compared to analyst estimates of $426.22 million. Globant had a return on equity of 11.53% and a net margin of 8.26%. The firm’s revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, analysts predict that Globant will post 4.14 earnings per share for the current year.
Institutional Investors Weigh In On Globant
Several institutional investors and hedge funds have recently modified their holdings of the stock. CreativeOne Wealth LLC boosted its position in shares of Globant by 22.4% in the third quarter. CreativeOne Wealth LLC now owns 2,709 shares of the information technology services provider’s stock worth $507,000 after buying an additional 495 shares during the period. BNP Paribas Arbitrage SNC boosted its holdings in Globant by 251.2% in the third quarter. BNP Paribas Arbitrage SNC now owns 10,370 shares of the information technology services provider’s stock valued at $1,940,000 after purchasing an additional 7,417 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Globant by 7.2% in the third quarter. UBS Asset Management Americas Inc. now owns 38,115 shares of the information technology services provider’s stock valued at $7,131,000 after purchasing an additional 2,544 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Globant by 9.0% in the third quarter. Vanguard Group Inc. now owns 180,259 shares of the information technology services provider’s stock valued at $33,723,000 after purchasing an additional 14,879 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Globant by 61.2% in the third quarter. Commonwealth Equity Services LLC now owns 2,165 shares of the information technology services provider’s stock valued at $405,000 after purchasing an additional 822 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.
About Globant
Globant SA operates as a technology services company worldwide. It 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.
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