Globant (NYSE:GLOB) Issues FY 2022 Earnings Guidance

Globant (NYSE:GLOBGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $4.94- for the period, compared to the consensus EPS 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 FY22 guidance to $4.94 EPS.

A number of equities analysts have recently commented on the stock. Wedbush dropped their price target on shares of Globant to $300.00 in a research report on Friday. Cowen dropped their price target on shares of Globant from $305.00 to $240.00 in a research report on Friday. Zacks Investment Research lowered shares of Globant from a hold rating to a sell rating in a research report on Friday. Cowen dropped their price target on shares of Globant from $305.00 to $240.00 and set an outperform rating on the stock in a research report on Friday. Finally, TheStreet lowered shares of Globant from a b- rating to a c+ rating in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Globant presently has a consensus rating of Buy and a consensus price target of $298.78.

Shares of NYSE:GLOB opened at $182.39 on Friday. Globant has a 52 week low of $159.56 and a 52 week high of $354.62. The company’s fifty day moving average is $229.92 and its 200-day moving average is $256.63. The company has a market capitalization of $7.64 billion, a PE ratio of 69.61 and a beta of 1.51.

Globant (NYSE:GLOBGet Rating) last issued its earnings results on Thursday, May 19th. The information technology services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.16 by $0.03. Globant had a net margin of 7.77% and a return on equity of 11.16%. The company had revenue of $401.38 million for the quarter, compared to the consensus estimate of $397.41 million. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 48.6% compared to the same quarter last year. On average, equities research analysts predict that Globant will post 3.98 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in GLOB. Vanguard Group Inc. raised its holdings in shares of Globant by 86.9% in the first quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock valued at $36,988,000 after buying an additional 65,635 shares during the last quarter. Invesco Ltd. raised its holdings in Globant by 5.5% during 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. Hsbc Holdings PLC raised its holdings in Globant by 64.3% during the 1st quarter. Hsbc Holdings PLC now owns 83,965 shares of the information technology services provider’s stock worth $22,166,000 after purchasing an additional 32,860 shares during the last quarter. State Street Corp raised its holdings in Globant by 5.5% during 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. Finally, Prudential Financial Inc. raised its holdings in Globant by 247.8% during the 1st quarter. Prudential Financial Inc. now owns 29,332 shares of the information technology services provider’s stock worth $7,687,000 after purchasing an additional 20,898 shares during the last quarter. 88.21% of the stock is owned by institutional investors and hedge funds.

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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