Globant (GLOB) Expected to Post Quarterly Sales of $114.06 Million

Equities research analysts expect that Globant (NYSE:GLOB) will report sales of $114.06 million for the current quarter, Zacks reports. Five analysts have provided estimates for Globant’s earnings, with estimates ranging from $113.40 million to $114.62 million. Globant reported sales of $88.74 million in the same quarter last year, which indicates a positive year over year growth rate of 28.5%. The business is expected to announce its next earnings results on Thursday, May 17th.

On average, analysts expect that Globant will report full year sales of $503.51 million for the current year, with estimates ranging from $501.70 million to $504.91 million. For the next financial year, analysts forecast that the firm will report sales of $603.77 million per share, with estimates ranging from $593.70 million to $609.04 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Globant.

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Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. The business had revenue of $115.43 million for the quarter, compared to analyst estimates of $109.25 million. Globant had a net margin of 7.55% and a return on equity of 13.02%.

A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine lowered shares of Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. SunTrust Banks upgraded shares of Globant from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. Finally, JPMorgan Chase restated an “overweight” rating and issued a $54.00 target price (up previously from $50.00) on shares of Globant in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.57.

Shares of NYSE GLOB traded up $0.71 during trading hours on Friday, hitting $45.36. 636,724 shares of the stock were exchanged, compared to its average volume of 293,213. The firm has a market capitalization of $1,571.43, a price-to-earnings ratio of 51.58 and a beta of 0.55. Globant has a 1-year low of $33.83 and a 1-year high of $54.84.

A number of institutional investors have recently modified their holdings of GLOB. Standard Life Aberdeen plc raised its stake in shares of Globant by 215.9% during the fourth quarter. Standard Life Aberdeen plc now owns 1,012,353 shares of the information technology services provider’s stock valued at $47,034,000 after acquiring an additional 691,866 shares during the last quarter. RWC Asset Management LLP raised its stake in shares of Globant by 81.1% during the fourth quarter. RWC Asset Management LLP now owns 781,389 shares of the information technology services provider’s stock valued at $36,303,000 after acquiring an additional 349,973 shares during the last quarter. Compass Group LLC bought a new position in shares of Globant during the fourth quarter valued at $33,466,000. Mackenzie Financial Corp raised its stake in shares of Globant by 37.0% during the fourth quarter. Mackenzie Financial Corp now owns 587,619 shares of the information technology services provider’s stock valued at $27,301,000 after acquiring an additional 158,800 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Globant by 124.2% during the fourth quarter. Millennium Management LLC now owns 549,633 shares of the information technology services provider’s stock valued at $25,536,000 after acquiring an additional 304,457 shares during the last quarter. Hedge funds and other institutional investors own 68.37% of the company’s stock.

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Globant Company Profile

Globant SA develops and provides software solutions to clients in North America, the Latin America, Europe, and Asia. It offers API management, e-commerce, and digital solutions; graphics engineering, game engineering, gaming experience, VR/AR development, and digital platform services; Big Data services, such as data integration, data architecture, scalable platform, blockchain, data visualization, and data science; testing center, test automation, mobile testing, and load and performance testing services.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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