Globant (NYSE:GLOB) Updates Q3 Earnings Guidance

Globant (NYSE:GLOB) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.57-$0.61 for the period, compared to the Thomson Reuters consensus earnings per share 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 recently commented on GLOB. Itau BBA Securities raised shares of Globant from a market perform rating to an outperform rating and upped their price objective for the company from $74.00 to $113.00 in a research note on Friday, June 21st. Citigroup lowered shares of Globant from a buy rating to a neutral rating and upped their price objective for the company from $93.00 to $115.00 in a research note on Wednesday, July 17th. Wedbush reaffirmed an outperform rating and issued a $90.00 price objective (up from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Finally, Zacks Investment Research lowered shares of Globant from a buy rating to a hold rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $88.00.

Shares of NYSE:GLOB traded up $0.48 during trading on Thursday, reaching $101.11. The stock had a trading volume of 454,578 shares, compared to its average volume of 297,303. The firm’s fifty day moving average is $105.85 and its 200 day moving average is $86.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.29 and a current ratio of 1.69. Globant has a 52 week low of $46.30 and a 52 week high of $112.33. The stock has a market cap of $3.64 billion, a price-to-earnings 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.

Read More: What Factors Can Affect Return on Equity?

Earnings History and Estimates for Globant (NYSE:GLOB)

Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.