Globant (NYSE:GLOB – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $5.03- for the period, compared to the consensus earnings per share estimate of $4.99. The company issued revenue guidance of $1.77B-, compared to the consensus revenue estimate of $1.77 billion. Globant also updated its Q3 2022 guidance to $1.24- EPS.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Cowen upped their price objective on Globant from $220.00 to $248.00 and gave the stock an outperform rating in a report on Friday, August 19th. TheStreet lowered Globant from a b- rating to a c+ rating in a research note on Thursday, May 5th. Citigroup lowered their target price on Globant from $350.00 to $265.00 and set a buy rating for the company in a research note on Friday, May 20th. Wedbush lowered their target price on Globant to $300.00 in a research note on Friday, May 20th. Finally, The Goldman Sachs Group lowered their target price on Globant from $360.00 to $280.00 and set a buy rating for the company in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $265.00.
Globant Price Performance
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GLOB opened at $210.77 on Thursday. The business has a 50 day simple moving average of $203.20 and a two-hundred day simple moving average of $217.00. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 70.02 and a beta of 1.50. Globant has a one year low of $159.56 and a one year high of $354.62.
Globant (NYSE:GLOB – Get Rating) last released its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The business 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%. Globant’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. As a group, sell-side analysts expect that Globant will post 4.04 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in shares of Globant by 16.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,067,477 shares of the information technology services provider’s stock worth $185,741,000 after acquiring an additional 150,994 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Globant by 86.9% in the 1st quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock worth $36,988,000 after acquiring an additional 65,635 shares in the last quarter. Invesco Ltd. raised its position in shares of Globant by 5.5% in the 1st quarter. Invesco Ltd. now owns 1,232,195 shares of the information technology services provider’s stock worth $322,920,000 after acquiring an additional 64,161 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Globant by 64.3% in the 1st quarter. Hsbc Holdings PLC now owns 83,965 shares of the information technology services provider’s stock worth $22,166,000 after acquiring an additional 32,860 shares in the last quarter. Finally, State Street Corp raised its position in shares of Globant by 5.5% in the 1st quarter. State Street Corp now owns 444,580 shares of the information technology services provider’s stock worth $116,511,000 after acquiring an additional 22,993 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.
Globant Company Profile
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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