Globant SA (NYSE:GLOB) Expected to Announce Quarterly Sales of $179.60 Million

Equities research analysts expect Globant SA (NYSE:GLOB) to post sales of $179.60 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Globant’s earnings, with the lowest sales estimate coming in at $178.90 million and the highest estimate coming in at $180.22 million. Globant posted sales of $157.53 million during the same quarter last year, which would indicate a positive year over year growth rate of 14%. The business is scheduled to report its next earnings report on Thursday, August 20th.

According to Zacks, analysts expect that Globant will report full year sales of $759.62 million for the current year, with estimates ranging from $745.21 million to $767.00 million. For the next year, analysts expect that the business will post sales of $941.78 million, with estimates ranging from $909.70 million to $1.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Globant.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 14th. The information technology services provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The firm had revenue of $191.57 million during the quarter, compared to analyst estimates of $190.24 million. Globant had a return on equity of 16.57% and a net margin of 7.82%.

Several brokerages recently weighed in on GLOB. Goldman Sachs Group reduced their price target on Globant from $165.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citigroup boosted their target price on Globant from $110.00 to $121.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Itau BBA Securities cut shares of Globant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Wedbush dropped their target price on shares of Globant from $150.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Piper Sandler initiated coverage on shares of Globant in a research report on Thursday, May 21st. They set an “overweight” rating and a $152.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $124.60.

Shares of Globant stock opened at $149.85 on Wednesday. The company’s fifty day simple moving average is $137.90 and its two-hundred day simple moving average is $116.01. The company has a market cap of $5.46 billion, a P/E ratio of 102.64 and a beta of 1.32. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 0.38. Globant has a 12-month low of $70.83 and a 12-month high of $152.59.

A number of institutional investors have recently bought and sold shares of the stock. Bamco Inc. NY raised its position in Globant by 492.7% in the fourth quarter. Bamco Inc. NY now owns 340,924 shares of the information technology services provider’s stock worth $36,155,000 after acquiring an additional 283,401 shares during the period. Sloane Robinson LLP raised its holdings in Globant by 115.6% in the 1st quarter. Sloane Robinson LLP now owns 59,300 shares of the information technology services provider’s stock worth $5,211,000 after purchasing an additional 31,800 shares during the period. State Street Corp lifted its position in Globant by 4.3% during the first quarter. State Street Corp now owns 1,106,770 shares of the information technology services provider’s stock valued at $97,263,000 after purchasing an additional 45,517 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Globant by 20.9% during the fourth quarter. Alliancebernstein L.P. now owns 10,270 shares of the information technology services provider’s stock valued at $1,089,000 after purchasing an additional 1,776 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Globant by 0.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 47,004 shares of the information technology services provider’s stock valued at $4,131,000 after buying an additional 190 shares in the last quarter. Institutional investors own 79.51% of the company’s stock.

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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