$157.45 Million in Sales Expected for Globant SA (NYSE:GLOB) This Quarter

Analysts expect Globant SA (NYSE:GLOB) to post $157.45 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Globant’s earnings. The lowest sales estimate is $157.30 million and the highest is $157.86 million. Globant posted sales of $127.89 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.1%. The business is expected to announce its next earnings report on Thursday, August 22nd.

On average, analysts expect that Globant will report full year sales of $643.14 million for the current year, with estimates ranging from $641.74 million to $645.69 million. For the next fiscal year, analysts forecast that the company will post sales of $778.23 million, with estimates ranging from $773.40 million to $784.69 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Globant.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Globant had a net margin of 9.77% and a return on equity of 16.35%. The business had revenue of $146.15 million during the quarter, compared to analyst estimates of $145.23 million. During the same quarter in the previous year, the business earned $0.38 EPS. Globant’s quarterly revenue was up 22.1% compared to the same quarter last year.

GLOB has been the subject of several analyst reports. Citigroup lowered shares of Globant from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $93.00 to $115.00 in a research note on Wednesday, July 17th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up previously from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Morgan Stanley initiated coverage on shares of Globant in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $85.00 price objective for the company. Finally, Itau BBA Securities raised shares of Globant from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $74.00 to $113.00 in a research note on Friday, June 21st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $84.78.

Shares of GLOB stock traded down $1.00 on Wednesday, hitting $106.00. The company’s stock had a trading volume of 445,137 shares, compared to its average volume of 293,287. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 2.29. Globant has a fifty-two week low of $46.30 and a fifty-two week high of $111.87. The firm’s fifty day moving average price is $104.61. The firm has a market cap of $3.89 billion, a PE ratio of 76.26 and a beta of 0.85.

Institutional investors have recently added to or reduced their stakes in the business. Bollard Group LLC acquired a new position in Globant during the 1st quarter worth $29,000. Icon Wealth Partners LLC acquired a new position in shares of Globant during the first quarter valued at about $42,000. Cutler Group LP acquired a new position in shares of Globant during the first quarter valued at about $128,000. Quantamental Technologies LLC acquired a new position in shares of Globant during the first quarter valued at about $150,000. Finally, Winslow Evans & Crocker Inc. raised its position in shares of Globant by 1,182.4% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock valued at $192,000 after buying an additional 1,750 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

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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