Globant (NYSE:GLOB) Releases FY22 Earnings Guidance

Globant (NYSE:GLOB – Get Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $4.94 for the period, compared to the consensus 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.

Several equities analysts have weighed in on GLOB shares. Cowen lowered their price objective on shares of Globant from $305.00 to $240.00 and set an outperform rating on the stock in a research report on Friday. Wedbush lowered their price objective on shares of Globant to $300.00 in a research report on Friday. Piper Sandler lowered their price objective on shares of Globant from $339.00 to $223.00 and set an overweight rating on the stock in a research report on Friday. TheStreet cut shares of Globant from a b- rating to a c+ rating in a research report on Thursday, May 5th. Finally, StockNews.com started coverage on shares of Globant in a research report on Thursday, March 31st. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $298.78.

Globant stock opened at $182.39 on Friday. The company’s fifty day simple moving average is $229.92 and its 200-day simple moving average is $256.63. Globant has a 12 month low of $159.56 and a 12 month high of $354.62. The stock has a market cap of $7.64 billion, a P/E ratio of 69.61 and a beta of 1.51.

Globant (NYSE:GLOB – Get Rating) last posted its quarterly 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 business had revenue of $401.38 million for the quarter, compared to analysts’ expectations of $397.41 million. During the same period in the previous year, the company posted $0.66 EPS. Globant’s revenue was up 48.6% on a year-over-year basis. On average, research analysts anticipate that Globant will post 3.98 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GLOB. Advisors Asset Management Inc. bought a new position in Globant during the first quarter valued at about $72,000. EverSource Wealth Advisors LLC bought a new position in Globant during the fourth quarter valued at about $79,000. Loomis Sayles & Co. L P raised its holdings in Globant by 22.2% during 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 buying an additional 85 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Globant by 268.5% during the first quarter. Lazard Asset Management LLC now owns 678 shares of the information technology services provider’s stock valued at $177,000 after buying an additional 494 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in Globant by 10.5% during the first quarter. Orion Portfolio Solutions LLC now owns 769 shares of the information technology services provider’s stock valued at $202,000 after buying 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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