Globant (NYSE:GLOB) Updates Q1 Earnings Guidance

Globant (NYSE:GLOB) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of at least $0.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60. The company issued revenue guidance of at least $188 million, compared to the consensus revenue estimate of $181.87 million.Globant also updated its FY 2020
After-Hours guidance to 2.74 EPS.

Shares of GLOB stock traded up $8.83 during trading hours on Friday, hitting $134.82. 823,106 shares of the company’s stock were exchanged, compared to its average volume of 280,848. The stock’s 50-day moving average is $120.77 and its 200-day moving average is $103.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 94.28 and a beta of 0.87. Globant has a 52 week low of $67.60 and a 52 week high of $141.67.

GLOB has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on Globant from $119.00 to $129.00 and gave the stock an overweight rating in a report on Tuesday, February 18th. Cantor Fitzgerald increased their target price on Globant from $97.00 to $120.00 and gave the stock a neutral rating in a report on Friday. Citigroup increased their target price on Globant from $125.00 to $128.00 and gave the stock a neutral rating in a report on Friday. Zacks Investment Research cut Globant from a buy rating to a hold rating in a report on Wednesday, January 15th. Finally, KeyCorp increased their target price on Globant from $121.00 to $144.00 and gave the stock an overweight rating in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $120.80.

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: How do investors use RSI to grade stocks?

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.