These Analysts Revise Price Targets On Globant Following Q1 Results

Globant S.A. GLOB reported better-than-expected earnings for its first quarter.

Globant posted adjusted earnings of $1.28 per share, beating market expectations of $1.27 per share. The company’s quarterly sales came in at $472.42 million versus estimates of $471.73 million.

Globant raised its FY23 adjusted EPS outlook from at least $5.70 to at least $5.71. The company also increased its revenue outlook from at least $2.065 billion to at least $2.074 billion.

Globant shares rose 0.9% to $153.00 in pre-market trading.

These analysts made changes to their price targets on Globant following earnings announcement.

• Keybanc cut the price target on Globant from $211 to $201. Keybanc analyst Thomas Blakey maintained an Overweight rating.
• Piper Sandler lifted the price target on Globant from $204 to $207. Piper Sandler analyst Arvind Ramnani maintained an Overweight rating.
• Needham analyst Mayank Tandon, meanwhile, reiterated Globant with a Buy and maintained a $205 price target.

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