Globant (NYSE:GLOB) Releases FY 2022 Earnings Guidance

Globant (NYSE:GLOBGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.94- for the period, compared to the consensus 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.

A number of brokerages recently weighed in on GLOB. Piper Sandler cut their price objective on shares of Globant from $339.00 to $223.00 and set an overweight rating on the stock in a research note on Friday, May 20th. Wedbush dropped their price target on shares of Globant to $300.00 in a research report on Friday, May 20th. Zacks Investment Research cut shares of Globant from a hold rating to a sell rating in a research report on Friday, May 20th. StockNews.com assumed coverage on shares of Globant in a research report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Citigroup dropped their price target on shares of Globant from $350.00 to $265.00 and set a buy rating on the stock in a research report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $298.78.

Shares of Globant stock opened at $181.10 on Thursday. The stock has a market capitalization of $7.59 billion, a P/E ratio of 69.12 and a beta of 1.51. The stock has a 50 day moving average price of $225.73 and a two-hundred day moving average price of $253.50. Globant has a 12-month low of $159.56 and a 12-month high of $354.62.

Globant (NYSE:GLOBGet Rating) last announced its earnings results on Thursday, May 19th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.03. Globant had a return on equity of 11.16% and a net margin of 7.77%. The firm had revenue of $401.38 million during the quarter, compared to analysts’ expectations of $397.41 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 48.6% on a year-over-year basis. Analysts expect that Globant will post 3.98 EPS for the current year.

Several hedge funds have recently modified their holdings of GLOB. Advisors Asset Management Inc. acquired a new position in shares of Globant in the first quarter valued at $72,000. EverSource Wealth Advisors LLC acquired a new position in shares of Globant in the fourth quarter valued at $79,000. Loomis Sayles & Co. L P raised its stake in shares of Globant by 22.2% in the first quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 85 shares in the last quarter. Lazard Asset Management LLC raised its stake 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 purchasing an additional 494 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of 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 in the last quarter. Institutional investors own 88.21% of the company’s stock.

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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