Brokerages Anticipate Globant SA (GLOB) Will Post Quarterly Sales of $145.02 Million

Wall Street analysts forecast that Globant SA (NYSE:GLOB) will report sales of $145.02 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Globant’s earnings. The lowest sales estimate is $144.01 million and the highest is $146.01 million. Globant posted sales of $119.71 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.1%. The firm is scheduled to announce its next earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Globant will report full-year sales of $639.49 million for the current fiscal year, with estimates ranging from $637.07 million to $641.90 million. For the next financial year, analysts expect that the company will report sales of $771.11 million, with estimates ranging from $768.01 million to $776.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Globant.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Globant had a net margin of 9.89% and a return on equity of 16.40%. The company had revenue of $140.14 million for the quarter, compared to analysts’ expectations of $139.32 million. During the same period in the prior year, the business earned $0.39 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis.

Several analysts have issued reports on the company. Zacks Investment Research raised Globant from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Monday, December 24th. SunTrust Banks raised their price objective on shares of Globant to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, January 29th. ValuEngine upgraded shares of Globant from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Wedbush raised their price objective on shares of Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 13th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $67.00 price objective on shares of Globant in a research report on Friday, February 15th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Globant has a consensus rating of “Buy” and a consensus price target of $64.75.

Globant stock traded down $2.70 during trading hours on Monday, hitting $71.81. The stock had a trading volume of 2,570 shares, compared to its average volume of 169,096. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 51.73 and a beta of 0.94. Globant has a 1-year low of $43.29 and a 1-year high of $75.23.

Several large investors have recently modified their holdings of GLOB. Claybrook Capital LLC acquired a new position in shares of Globant in the 4th quarter worth approximately $26,000. Daiwa Securities Group Inc. bought a new position in shares of Globant in the 4th quarter worth $28,000. We Are One Seven LLC bought a new position in shares of Globant in the 4th quarter worth $118,000. Quantbot Technologies LP bought a new position in shares of Globant in the 3rd quarter worth $175,000. Finally, Caxton Associates LP acquired a new stake in Globant during the 3rd quarter worth $217,000. Hedge funds and other institutional investors own 80.75% of the company’s stock.

Globant Company Profile

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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