Globant (GLOB) Issues Earnings Results

Globant (NYSE:GLOB) issued its quarterly earnings data on Thursday. The information technology services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.01), Morningstar.com reports. Globant had a net margin of 9.48% and a return on equity of 15.07%. The firm had revenue of $134.57 million during the quarter, compared to analysts’ expectations of $132.72 million.

Shares of Globant stock traded down $0.41 during trading hours on Friday, hitting $52.48. 2,802 shares of the company were exchanged, compared to its average volume of 195,781. Globant has a 1 year low of $34.82 and a 1 year high of $66.41. The stock has a market capitalization of $1.87 billion, a PE ratio of 59.42 and a beta of 0.83.

A number of equities research analysts have weighed in on GLOB shares. JPMorgan Chase & Co. reduced their price objective on Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. Citigroup boosted their price objective on Globant from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Finally, Zacks Investment Research cut Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $58.00.

Several institutional investors have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in Globant by 68.4% in the first quarter. UBS Group AG now owns 19,831 shares of the information technology services provider’s stock valued at $1,022,000 after buying an additional 8,054 shares during the period. Legal & General Group Plc raised its holdings in shares of Globant by 87.8% during the first quarter. Legal & General Group Plc now owns 5,446 shares of the information technology services provider’s stock valued at $281,000 after purchasing an additional 2,546 shares during the period. Bank of Montreal Can raised its holdings in shares of Globant by 32.9% during the second quarter. Bank of Montreal Can now owns 3,640 shares of the information technology services provider’s stock valued at $206,000 after purchasing an additional 901 shares during the period. Pendal Group Ltd acquired a new position in shares of Globant during the second quarter valued at about $948,000. Finally, Fred Alger Management Inc. raised its holdings in shares of Globant by 85.3% during the second 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 period. Institutional investors and hedge funds own 76.93% of the company’s stock.

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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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Earnings History for Globant (NYSE:GLOB)

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