Globant (NYSE:GLOB) Updates FY22 Earnings Guidance

Globant (NYSE:GLOBGet Rating) updated its FY22 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 $5.01. The company issued revenue guidance of $1.768 billion, compared to the consensus revenue estimate of $1.77 billion.Globant also updated its FY 2022 guidance to $4.94- EPS.

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

GLOB stock traded up $5.53 during midday trading on Thursday, hitting $185.22. The stock had a trading volume of 615,021 shares, compared to its average volume of 351,959. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 80.88 and a beta of 1.51. Globant has a 52 week low of $159.56 and a 52 week high of $354.62. The stock has a 50-day simple moving average of $230.79 and a 200 day simple moving average of $258.06.

Globant (NYSE:GLOBGet Rating) last issued its earnings results on Thursday, February 17th. The information technology services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $379.82 million during the quarter, compared to analysts’ expectations of $361.26 million. Globant had a return on equity of 10.79% and a net margin of 7.41%. During the same period last year, the business earned $0.57 earnings per share. Equities analysts forecast that Globant will post 3.98 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of GLOB. IHT Wealth Management LLC lifted its holdings in shares of Globant by 9.3% during the first quarter. IHT Wealth Management LLC now owns 2,539 shares of the information technology services provider’s stock valued at $665,000 after acquiring an additional 217 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Globant during the fourth quarter valued at $619,000. Lido Advisors LLC lifted its holdings in shares of Globant by 7.1% during the first quarter. Lido Advisors LLC now owns 2,185 shares of the information technology services provider’s stock valued at $572,000 after acquiring an additional 144 shares during the period. JustInvest LLC lifted its holdings in shares of Globant by 24.6% during the fourth quarter. JustInvest LLC now owns 1,787 shares of the information technology services provider’s stock valued at $561,000 after acquiring an additional 353 shares during the period. Finally, Graham Capital Management L.P. lifted its holdings in shares of Globant by 31.3% during the first quarter. Graham Capital Management L.P. now owns 2,007 shares of the information technology services provider’s stock valued at $525,000 after acquiring an additional 479 shares during the period. 88.21% of the stock is owned by hedge funds and other institutional investors.

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.

Recommended Stories

Earnings History and Estimates for Globant (NYSE:GLOB)

Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.