Analysts expect Globant SA (NYSE:GLOB) to report $87.74 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Globant SA’s earnings, with the lowest sales estimate coming in at $86.3 million and the highest estimate coming in at $89.46 million. Globant SA posted sales of $73.33 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.7%. The business is scheduled to announce its next earnings report after the market closes on Thursday, May 18th.
On average, analysts expect that Globant SA will report full-year sales of $87.74 million for the current year, with estimates ranging from $387.5 million to $395.3 million. For the next fiscal year, analysts anticipate that the company will post sales of $471.67 million per share, with estimates ranging from $460.5 million to $481.3 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Globant SA.
Globant SA (NYSE:GLOB) last posted its earnings results on Thursday, February 16th. The information technology services provider reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.02. Globant SA had a net margin of 11.32% and a return on equity of 19.58%. The business earned $87.30 million during the quarter, compared to analyst estimates of $85.95 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis.
Several research firms have recently weighed in on GLOB. TheStreet raised Globant SA from a “c” rating to a “b-” rating in a research report on Friday, March 17th. Cantor Fitzgerald lowered their price objective on Globant SA from $43.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, February 17th. Zacks Investment Research lowered Globant SA from a “hold” rating to a “sell” rating in a research report on Tuesday, January 17th. Finally, Pacific Crest upgraded Globant SA from a “sector weight” rating to an “overweight” rating and set a $38.00 target price for the company in a research note on Thursday, January 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $43.36.
Hedge funds have recently modified their holdings of the stock. BlackRock Group LTD increased its stake in shares of Globant SA by 42.4% in the third quarter. BlackRock Group LTD now owns 363,393 shares of the information technology services provider’s stock valued at $15,306,000 after buying an additional 108,222 shares in the last quarter. Morgan Stanley increased its stake in shares of Globant SA by 65.6% in the third quarter. Morgan Stanley now owns 1,827,329 shares of the information technology services provider’s stock valued at $76,967,000 after buying an additional 724,089 shares in the last quarter. Thornburg Investment Management Inc. purchased a new stake in shares of Globant SA during the fourth quarter valued at approximately $9,473,000. Polar Capital LLP increased its stake in shares of Globant SA by 26.8% in the third quarter. Polar Capital LLP now owns 493,556 shares of the information technology services provider’s stock valued at $20,787,000 after buying an additional 104,450 shares in the last quarter. Finally, Tygh Capital Management Inc. increased its stake in shares of Globant SA by 52.9% in the third quarter. Tygh Capital Management Inc. now owns 140,207 shares of the information technology services provider’s stock valued at $5,906,000 after buying an additional 48,503 shares in the last quarter. Institutional investors own 63.04% of the company’s stock.
Globant SA (NYSE:GLOB) traded up 0.73% on Wednesday, reaching $37.41. The company’s stock had a trading volume of 102,125 shares. The firm’s 50-day moving average price is $35.63 and its 200-day moving average price is $36.24. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 37.04 and a beta of 0.82. Globant SA has a 52-week low of $30.90 and a 52-week high of $47.19.
About Globant SA
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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