Globant (NYSE:GLOB) Updates Q2 2022 Earnings Guidance

Globant (NYSE:GLOB – Get Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.20- for the period, compared to the consensus earnings per share estimate of $1.17. The company issued revenue guidance of $425.50M-, compared to the consensus revenue estimate of $425.09 million.Globant also updated its FY 2022 guidance to $4.94- EPS.

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

Globant (NYSE:GLOB – Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The information technology services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.03. Globant had a net margin of 7.77% and a return on equity of 11.16%. The firm had revenue of $401.38 million for the quarter, compared to analyst estimates of $397.41 million. During the same quarter in the previous year, the business posted $0.66 EPS. The firm’s revenue was up 48.6% compared to the same quarter last year. Research analysts predict that Globant will post 3.98 EPS for the current fiscal year.

A number of brokerages have recently issued reports on GLOB. Cowen cut their target price on shares of Globant from $305.00 to $240.00 and set an outperform rating on the stock in a research note on Friday, May 20th. StockNews.com began coverage on shares of Globant in a research note on Thursday, March 31st. They issued a hold rating on the stock. Citigroup cut their target price on shares of Globant from $350.00 to $265.00 and set a buy rating on the stock in a research note on Friday, May 20th. Wedbush cut their target price on shares of Globant to $300.00 in a research note on Friday, May 20th. Finally, TheStreet lowered shares of Globant from a b- rating to a c+ rating in a research note on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $298.78.

Several large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new position in Globant in the 4th quarter worth about $79,000. Advisors Asset Management Inc. bought a new position in Globant in the 1st quarter worth about $72,000. Loomis Sayles & Co. L P grew its position in Globant by 22.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 85 shares during the last quarter. Lazard Asset Management LLC grew its position in Globant by 268.5% in the 1st quarter. Lazard Asset Management LLC now owns 678 shares of the information technology services provider’s stock worth $177,000 after purchasing an additional 494 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Globant by 10.5% in the 1st quarter. Orion Portfolio Solutions LLC now owns 769 shares of the information technology services provider’s stock worth $202,000 after purchasing an additional 73 shares during the last quarter. 88.21% of the stock is owned by institutional investors and hedge funds.

Globant Company Profile (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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