Globant (NYSE:GLOB) Releases Q3 Earnings Guidance

Globant (NYSE:GLOB) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.57-$0.61 for the period, compared to the Thomson Reuters consensus estimate of $0.57. The company issued revenue guidance of $170-$172 million, compared to the consensus revenue estimate of $166.30 million.Globant also updated its FY 2019 guidance to $2.19-2.25 EPS.

A number of research firms have issued reports on GLOB. Citigroup downgraded shares of Globant from a buy rating to a neutral rating and boosted their price objective for the company from $93.00 to $115.00 in a report on Wednesday, July 17th. Wedbush reissued an outperform rating and issued a $90.00 price objective (up previously from $75.00) on shares of Globant in a report on Wednesday, May 8th. Itau BBA Securities raised shares of Globant from a market perform rating to an outperform rating and boosted their price objective for the company from $74.00 to $113.00 in a report on Friday, June 21st. Finally, Zacks Investment Research downgraded shares of Globant from a buy rating to a hold rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Globant presently has an average rating of Buy and an average price target of $88.00.

Shares of Globant stock traded up $0.48 on Thursday, reaching $101.11. 454,578 shares of the stock were exchanged, compared to its average volume of 297,303. The firm’s 50 day moving average is $105.85 and its 200-day moving average is $86.55. Globant has a one year low of $46.30 and a one year high of $112.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69. The firm has a market cap of $3.64 billion, a PE ratio of 72.74 and a beta of 0.84.

About Globant

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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