Zacks: Analysts Expect Globant SA (GLOB) Will Announce Quarterly Sales of $132.68 Million

Analysts predict that Globant SA (NYSE:GLOB) will report $132.68 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Globant’s earnings, with estimates ranging from $131.61 million to $133.97 million. Globant reported sales of $109.68 million in the same quarter last year, which indicates a positive year over year growth rate of 21%. The business is scheduled to issue its next earnings results after the market closes on Thursday, November 15th.

On average, analysts expect that Globant will report full year sales of $515.72 million for the current year, with estimates ranging from $508.56 million to $519.06 million. For the next fiscal year, analysts expect that the firm will report sales of $619.99 million, with estimates ranging from $610.27 million to $625.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Globant.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 23rd. The information technology services provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. Globant had a return on equity of 15.07% and a net margin of 9.48%. The firm had revenue of $127.90 million during the quarter, compared to analyst estimates of $125.18 million. During the same quarter in the previous year, the business earned $0.27 EPS. Globant’s revenue for the quarter was up 28.4% compared to the same quarter last year.

Several brokerages recently weighed in on GLOB. Zacks Investment Research upgraded Globant from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Friday, June 22nd. SunTrust Banks lifted their price target on Globant to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. JPMorgan Chase & Co. lifted their price target on Globant from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Finally, Citigroup lifted their price target on Globant from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.71.

Hedge funds have recently bought and sold shares of the stock. Granahan Investment Management Inc. MA acquired a new stake in Globant in the 2nd quarter worth about $24,822,000. Compass Group LLC boosted its holdings in Globant by 53.0% in the 2nd quarter. Compass Group LLC now owns 1,423,193 shares of the information technology services provider’s stock worth $80,795,000 after buying an additional 493,101 shares during the last quarter. Morgan Stanley boosted its holdings in Globant by 7.1% in the 2nd quarter. Morgan Stanley now owns 3,626,834 shares of the information technology services provider’s stock worth $205,968,000 after buying an additional 240,630 shares during the last quarter. Stephens Investment Management Group LLC boosted its holdings in Globant by 12.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 257,118 shares of the information technology services provider’s stock worth $14,144,000 after buying an additional 28,915 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in Globant by 43.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 79,301 shares of the information technology services provider’s stock worth $4,504,000 after buying an additional 23,861 shares during the last quarter. Institutional investors own 79.28% of the company’s stock.

Shares of Globant stock opened at $50.69 on Friday. Globant has a twelve month low of $34.82 and a twelve month high of $66.41. The stock has a market capitalization of $1.85 billion, a P/E ratio of 58.72 and a beta of 0.63.

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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Earnings History and Estimates for Globant (NYSE:GLOB)

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