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.
NYSE:GLOB traded up $8.83 during trading hours on Friday, reaching $134.82. 823,106 shares of the stock were exchanged, compared to its average volume of 280,848. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $120.77 and a 200-day simple moving average of $103.88. Globant has a 52 week low of $67.60 and a 52 week high of $141.67. The stock has a market capitalization of $4.59 billion, a P/E ratio of 94.28 and a beta of 0.87.
GLOB has been the topic of a number of research analyst reports. Cowen reaffirmed an outperform rating and set a $140.00 target price (up previously from $125.00) on shares of Globant in a report on Friday. 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. Wedbush increased their price target on Globant from $115.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday. Zacks Investment Research cut Globant from a buy rating to a hold rating in a research report on Wednesday, January 15th. Finally, Citigroup increased their price target on Globant from $125.00 to $128.00 and gave the stock a neutral rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $120.80.
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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