$132.72 Million in Sales Expected for Globant SA (GLOB) This Quarter

Share on StockTwits

Brokerages expect Globant SA (NYSE:GLOB) to announce $132.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Globant’s earnings. The lowest sales estimate is $131.61 million and the highest is $134.15 million. Globant reported sales of $109.68 million in the same quarter last year, which indicates a positive year-over-year growth rate of 21%. The business is scheduled to issue its next earnings results after the market closes on Thursday, November 15th.

On average, analysts expect that Globant will report full year sales of $517.85 million for the current fiscal year, with estimates ranging from $516.20 million to $520.41 million. For the next fiscal year, analysts expect that the company will report sales of $620.71 million, with estimates ranging from $610.27 million to $625.60 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Globant.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 23rd. The information technology services provider reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.12. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $125.18 million. Globant had a return on equity of 15.07% and a net margin of 9.48%. Globant’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 EPS.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on Globant from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, August 24th. Citigroup boosted their target price on Globant from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 24th. Finally, Zacks Investment Research downgraded Globant from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Globant has a consensus rating of “Buy” and a consensus target price of $58.00.

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of Globant by 7.1% in the 2nd quarter. Morgan Stanley now owns 3,626,834 shares of the information technology services provider’s stock valued at $205,968,000 after purchasing an additional 240,630 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Globant by 36.9% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,758,045 shares of the information technology services provider’s stock valued at $103,707,000 after purchasing an additional 474,011 shares during the last quarter. Compass Group LLC lifted its holdings in shares of Globant by 53.0% in the 2nd quarter. Compass Group LLC now owns 1,423,193 shares of the information technology services provider’s stock valued at $80,795,000 after purchasing an additional 493,101 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Globant by 10.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,069,992 shares of the information technology services provider’s stock valued at $63,119,000 after purchasing an additional 101,451 shares during the last quarter. Finally, Fred Alger Management Inc. lifted its holdings in shares of Globant by 85.3% in the 2nd quarter. Fred Alger Management Inc. now owns 916,820 shares of the information technology services provider’s stock valued at $52,066,000 after purchasing an additional 421,914 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE GLOB opened at $52.06 on Wednesday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 59.16 and a beta of 0.83. Globant has a 1 year low of $34.82 and a 1 year high of $66.41.

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.

Featured Story: Book Value Per Share in Stock Trading

Get a free copy of the Zacks research report on Globant (GLOB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Globant (NYSE:GLOB)

Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply