Brokers Offer Predictions for Globant S.A.’s Q3 2023 Earnings (NYSE:GLOB)

Brokers Offer Predictions for Globant S.A.’s Q3 2023 Earnings (NYSE:GLOB)

Globant S.A. (NYSE:GLOBGet Rating) – Jefferies Financial Group decreased their Q3 2023 earnings estimates for shares of Globant in a report issued on Wednesday, August 17th. Jefferies Financial Group analyst S. Thind now forecasts that the information technology services provider will earn $1.34 per share for the quarter, down from their prior estimate of $1.35. The consensus estimate for Globant’s current full-year earnings is $3.87 per share.

Other equities analysts also recently issued reports about the stock. TheStreet downgraded shares of Globant from a “b-” rating to a “c+” rating in a report on Thursday, May 5th. Cowen decreased their price target on shares of Globant from $305.00 to $240.00 in a research note on Friday, May 20th. Cowen decreased their price target on shares of Globant from $305.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Piper Sandler raised their price target on shares of Globant from $231.00 to $249.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wedbush decreased their price target on shares of Globant to $300.00 in a research note on Friday, May 20th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.86.

Globant Trading Up 0.2 %

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NYSE:GLOB opened at $229.90 on Friday. The firm has a 50-day moving average price of $196.11 and a two-hundred day moving average price of $219.22. Globant has a twelve month low of $159.56 and a twelve month high of $354.62. The company has a market capitalization of $9.63 billion, a P/E ratio of 87.75 and a beta of 1.50.

Globant (NYSE:GLOBGet Rating) last released its earnings results on Thursday, August 18th. The information technology services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.21 by $0.01. Globant had a net margin of 7.77% and a return on equity of 10.98%. The company had revenue of $429.30 million during the quarter, compared to analysts’ expectations of $426.22 million. During the same quarter last year, the business earned $0.71 EPS. The business’s revenue was up 40.6% on a year-over-year basis.

Hedge Funds Weigh In On Globant

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its holdings in shares of Globant by 1.7% during the first quarter. Advisor Group Holdings Inc. now owns 18,313 shares of the information technology services provider’s stock valued at $4,786,000 after acquiring an additional 304 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Globant during the first quarter valued at $750,000. Ieq Capital LLC acquired a new position in shares of Globant during the first quarter valued at $213,000. Comerica Bank boosted its holdings in shares of Globant by 12.0% during the first quarter. Comerica Bank now owns 2,048 shares of the information technology services provider’s stock valued at $480,000 after acquiring an additional 220 shares during the period. Finally, Riverbridge Partners LLC boosted its holdings in shares of Globant by 1.2% during the first quarter. Riverbridge Partners LLC now owns 1,474,571 shares of the information technology services provider’s stock valued at $386,441,000 after acquiring an additional 17,533 shares during the period. Institutional investors and hedge funds own 88.21% of the company’s stock.

About Globant

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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