Globant SA (GLOB) Expected to Announce Quarterly Sales of $125.51 Million

Brokerages expect Globant SA (NYSE:GLOB) to report sales of $125.51 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Globant’s earnings. The highest sales estimate is $126.48 million and the lowest is $124.49 million. Globant posted sales of $99.59 million during the same quarter last year, which suggests a positive year over year growth rate of 26%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, August 23rd.

On average, analysts expect that Globant will report full-year sales of $510.11 million for the current fiscal year, with estimates ranging from $507.00 million to $513.98 million. For the next fiscal year, analysts anticipate that the firm will post sales of $612.57 million per share, with estimates ranging from $602.73 million to $625.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Globant.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 10th. The information technology services provider reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The firm had revenue of $119.70 million during the quarter, compared to analyst estimates of $113.96 million. Globant had a net margin of 7.32% and a return on equity of 13.11%. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS.

GLOB has been the subject of several analyst reports. Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a research note on Monday, May 21st. Wedbush increased their price objective on shares of Globant from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, June 19th. HSBC initiated coverage on shares of Globant in a research note on Friday, April 20th. They issued a “hold” rating and a $48.00 price objective for the company. Finally, SunTrust Banks increased their price objective on shares of Globant to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $54.29.

Several hedge funds have recently modified their holdings of the company. Riverbridge Partners LLC increased its stake in shares of Globant by 10.7% during the 2nd quarter. Riverbridge Partners LLC now owns 1,743,320 shares of the information technology services provider’s stock worth $99,003,000 after purchasing an additional 169,213 shares during the last quarter. Compass Group LLC increased its stake in shares of Globant by 53.0% during the 2nd quarter. Compass Group LLC now owns 1,423,193 shares of the information technology services provider’s stock worth $80,795,000 after purchasing an additional 493,101 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Globant by 16.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,284,034 shares of the information technology services provider’s stock worth $72,920,000 after purchasing an additional 179,185 shares during the last quarter. RWC Asset Management LLP increased its stake in shares of Globant by 61.4% during the 1st quarter. RWC Asset Management LLP now owns 1,261,539 shares of the information technology services provider’s stock worth $65,020,000 after purchasing an additional 480,150 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Globant by 3,154.4% during the 2nd quarter. Wells Fargo & Company MN now owns 968,541 shares of the information technology services provider’s stock worth $55,003,000 after purchasing an additional 938,780 shares during the last quarter. Institutional investors own 66.93% of the company’s stock.

NYSE:GLOB opened at $58.21 on Monday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 66.15 and a beta of 0.54. Globant has a 52 week low of $34.82 and a 52 week high of $59.97.

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.

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