Globant (NYSE:GLOB) Announces Earnings Results

Globant (NYSE:GLOB) posted its quarterly earnings results on Thursday. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39), Zacks reports. Globant had a return on equity of 11.65% and a net margin of 7.20%.

Globant Stock Performance

NYSE:GLOB traded down $7.18 on Thursday, hitting $210.43. 1,234,554 shares of the stock were exchanged, compared to its average volume of 498,045. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 54.94, a P/E/G ratio of 2.52 and a beta of 1.39. Globant has a 52 week low of $151.68 and a 52 week high of $238.32. The company’s 50-day moving average price is $215.55 and its 200 day moving average price is $210.82.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GLOB shares. TD Cowen lifted their price target on shares of Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank boosted their target price on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Piper Sandler reduced their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $230.28.

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.