Globant (NYSE:GLOB) Updates Q1 Earnings Guidance

Globant (NYSE:GLOB) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of at least $0.62 for the period, compared to the Thomson Reuters consensus EPS 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.

A number of brokerages have weighed in on GLOB. KeyCorp boosted their price target on Globant from $121.00 to $144.00 and gave the stock an overweight rating in a research report on Friday. Wedbush increased their price objective on Globant from $115.00 to $150.00 and gave the company an outperform rating in a report on Thursday. Zacks Investment Research lowered Globant from a buy rating to a hold rating in a report on Wednesday, January 15th. Cantor Fitzgerald raised their price objective on Globant from $97.00 to $120.00 and gave the company a neutral rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $120.80.

GLOB traded up $8.83 during midday trading on Friday, reaching $134.82. The company’s stock had a trading volume of 823,106 shares, compared to its average volume of 280,848. Globant has a twelve month low of $67.60 and a twelve month high of $141.67. The stock has a market cap of $4.59 billion, a P/E ratio of 94.28 and a beta of 0.87. The company has a fifty day simple moving average of $120.77 and a 200 day simple moving average of $103.88. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.15.

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.

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