Globant (NYSE:GLOB) Updates FY 2022 Earnings Guidance

Globant (NYSE:GLOBGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $4.94- for the period, compared to the consensus earnings per share estimate of $4.96. The company issued revenue guidance of $1.77B-, compared to the consensus revenue estimate of $1.77 billion.Globant also updated its Q2 2022 guidance to $1.20- EPS.

Several brokerages have recently weighed in on GLOB. Piper Sandler cut their price objective on Globant from $352.00 to $339.00 and set an overweight rating for the company in a report on Friday, February 18th. StockNews.com began coverage on Globant in a report on Thursday, March 31st. They issued a hold rating for the company. Zacks Investment Research lowered Globant from a buy rating to a hold rating in a report on Tuesday, April 26th. TheStreet lowered Globant from a b- rating to a c+ rating in a report on Thursday, May 5th. Finally, Cowen boosted their target price on Globant from $300.00 to $305.00 in a research report on Friday, February 18th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and an average price target of $345.63.

Shares of Globant stock traded up $5.53 on Thursday, reaching $185.22. 614,782 shares of the company were exchanged, compared to its average volume of 351,956. The stock has a fifty day moving average price of $231.61 and a 200-day moving average price of $258.57. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 81.97 and a beta of 1.51. Globant has a fifty-two week low of $159.56 and a fifty-two week high of $354.62.

Globant (NYSE:GLOBGet Rating) last posted its quarterly earnings results on Thursday, February 17th. The information technology services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.06. The firm had revenue of $379.82 million for the quarter, compared to analyst estimates of $361.26 million. Globant had a return on equity of 10.79% and a net margin of 7.41%. During the same period in the previous year, the firm earned $0.57 earnings per share. As a group, research analysts anticipate that Globant will post 3.98 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Invesco Ltd. increased its position in 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 purchasing an additional 64,161 shares during the last quarter. Capital International Investors increased its position in Globant by 0.6% in the 1st quarter. Capital International Investors now owns 822,632 shares of the information technology services provider’s stock worth $215,587,000 after purchasing an additional 4,561 shares during the last quarter. State Street Corp increased its position in 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 purchasing an additional 22,993 shares during the last quarter. Vanguard Group Inc. increased its position in 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 purchasing an additional 65,635 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Globant by 1.2% in the 1st quarter. Royal Bank of Canada now owns 95,405 shares of the information technology services provider’s stock worth $25,002,000 after purchasing an additional 1,090 shares during the last quarter. 88.21% of the stock is currently owned by hedge funds and other institutional investors.

About Globant (Get Rating)

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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Earnings History and Estimates for Globant (NYSE:GLOB)

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