Equities Analysts Set Expectations for Globant S.A.'s Q2 2024 Earnings (NYSE:GLOB)

Globant S.A. (NYSE:GLOB - Free Report) - Investment analysts at William Blair lowered their Q2 2024 EPS estimates for shares of Globant in a research note issued on Wednesday, April 3rd. William Blair analyst M. Nolan now anticipates that the information technology services provider will post earnings per share of $1.20 for the quarter, down from their previous forecast of $1.21. The consensus estimate for Globant's current full-year earnings is $5.04 per share. William Blair also issued estimates for Globant's Q1 2025 earnings at $1.27 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.55 EPS and Q4 2025 earnings at $1.69 EPS.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to the consensus estimate of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%.

Several other analysts also recently weighed in on GLOB. Canaccord Genuity Group reiterated a "hold" rating and issued a $230.00 price objective on shares of Globant in a research report on Tuesday, February 20th. Wedbush restated an "outperform" rating and set a $250.00 price target on shares of Globant in a research report on Friday, February 16th. KeyCorp boosted their price target on shares of Globant from $266.00 to $272.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. UBS Group boosted their price target on shares of Globant from $230.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. Finally, Citigroup boosted their price target on shares of Globant from $215.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, January 17th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Globant has an average rating of "Moderate Buy" and an average target price of $246.59.

Globant Trading Up 0.1 %

NYSE:GLOB traded up $0.25 during mid-day trading on Friday, hitting $197.17. The stock had a trading volume of 233,953 shares, compared to its average volume of 472,302. The stock has a market capitalization of $8.50 billion, a price-to-earnings ratio of 54.35, a P/E/G ratio of 1.51 and a beta of 1.35. The company has a 50 day simple moving average of $220.45 and a 200-day simple moving average of $213.21. Globant has a 52 week low of $135.40 and a 52 week high of $251.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. grew its position in Globant by 122.0% in the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider's stock worth $26,000 after acquiring an additional 72 shares in the last quarter. LM Advisors LLC bought a new stake in Globant in the fourth quarter worth approximately $27,000. Accent Capital Management LLC bought a new stake in Globant in the fourth quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new stake in Globant in the second quarter worth approximately $50,000. Finally, Fortis Capital Advisors LLC bought a new stake in Globant in the first quarter worth approximately $55,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.