Globant SA (GLOB) Expected to Post Earnings of $0.35 Per Share

Equities research analysts forecast that Globant SA (NYSE:GLOB) will post $0.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Globant’s earnings. The lowest EPS estimate is $0.33 and the highest is $0.38. Globant posted earnings per share of $0.27 in the same quarter last year, which suggests a positive year over year growth rate of 29.6%. The company is expected to issue its next earnings results on Thursday, May 17th.

According to Zacks, analysts expect that Globant will report full-year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.63. For the next year, analysts expect that the firm will report earnings of $1.94 per share, with EPS estimates ranging from $1.87 to $2.11. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Globant.

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

A number of analysts recently commented on GLOB shares. Zacks Investment Research upgraded Globant from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Thursday, February 22nd. ValuEngine cut Globant from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. SunTrust Banks lifted their price objective on Globant to $52.00 and gave the stock a “hold” rating in a research report on Wednesday, February 21st. They noted that the move was a valuation call. Finally, JPMorgan Chase reiterated an “overweight” rating and set a $54.00 price objective (up previously from $50.00) on shares of Globant in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Globant currently has a consensus rating of “Hold” and a consensus price target of $49.57.

Shares of GLOB stock traded down $1.60 during mid-day trading on Monday, reaching $49.94. The stock had a trading volume of 313,694 shares, compared to its average volume of 246,681. Globant has a 12-month low of $33.56 and a 12-month high of $54.84. The stock has a market cap of $1,809.05, a P/E ratio of 56.75 and a beta of 0.55.

A number of institutional investors and hedge funds have recently bought and sold shares of GLOB. Compass Group LLC purchased a new stake in Globant in the 4th quarter valued at about $33,466,000. Standard Life Aberdeen plc grew its holdings in Globant by 215.9% in the 4th 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 buying an additional 691,866 shares during the period. Gilder Gagnon Howe & Co. LLC purchased a new stake in Globant in the 4th quarter valued at about $19,372,000. Hood River Capital Management LLC purchased a new stake in Globant in the 4th quarter valued at about $17,754,000. Finally, RWC Asset Management LLP grew its holdings in Globant by 81.1% in the 4th quarter. RWC Asset Management LLP now owns 781,389 shares of the information technology services provider’s stock valued at $36,303,000 after buying an additional 349,973 shares during the period. Institutional investors own 68.19% of the company’s stock.

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About Globant

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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