$0.44 EPS Expected for Globant SA (GLOB) This Quarter

Wall Street brokerages expect that Globant SA (NYSE:GLOB) will post $0.44 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Globant’s earnings. The highest EPS estimate is $0.46 and the lowest is $0.42. Globant posted earnings of $0.34 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 29.4%. The firm is expected to issue its next earnings results after the market closes on Thursday, November 15th.

On average, analysts expect that Globant will report full year earnings of $1.67 per share for the current financial year, with EPS estimates ranging from $1.63 to $1.70. For the next financial year, analysts expect that the business will report earnings of $2.06 per share, with EPS estimates ranging from $2.00 to $2.14. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Globant.

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

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Globant from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Friday, June 22nd. Wedbush boosted their price target on shares of Globant from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, June 19th. SunTrust Banks boosted their price target on shares of Globant to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of Globant from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, August 24th. Finally, Citigroup boosted their price target on shares of Globant from $62.00 to $66.00 and gave the company a “buy” rating in a report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Globant has a consensus rating of “Buy” and an average target price of $57.63.

Shares of Globant stock traded down $1.07 on Monday, hitting $54.74. 338,000 shares of the company’s stock traded hands, compared to its average volume of 328,530. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 62.61 and a beta of 0.63. Globant has a one year low of $34.82 and a one year high of $66.41.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Granahan Investment Management Inc. MA acquired a new position in Globant in the 2nd quarter worth $24,822,000. Compass Group LLC boosted its stake in 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 worth $80,795,000 after purchasing an additional 493,101 shares during the period. Morgan Stanley boosted its stake in Globant by 7.1% in the 2nd quarter. Morgan Stanley now owns 3,626,834 shares of the information technology services provider’s stock worth $205,968,000 after purchasing an additional 240,630 shares during the period. Stephens Investment Management Group LLC boosted its stake in Globant by 12.7% in the 2nd quarter. Stephens Investment Management Group LLC now owns 257,118 shares of the information technology services provider’s stock worth $14,144,000 after purchasing an additional 28,915 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in Globant by 43.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 79,301 shares of the information technology services provider’s stock worth $4,504,000 after purchasing an additional 23,861 shares during the period. 79.45% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Globant (NYSE:GLOB)

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