Zacks: Analysts Anticipate Globant SA (NYSE:GLOB) Will Post Earnings of $0.59 Per Share

Brokerages expect that Globant SA (NYSE:GLOB) will announce earnings per share (EPS) of $0.59 for the current quarter, according to Zacks. Four analysts have made estimates for Globant’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.58. Globant reported earnings of $0.46 per share in the same quarter last year, which suggests a positive year over year growth rate of 28.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, November 14th.

According to Zacks, analysts expect that Globant will report full-year earnings of $2.24 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.25. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.75 per share, with EPS estimates ranging from $2.67 to $2.84. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Globant.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The company had revenue of $157.50 million for the quarter, compared to analysts’ expectations of $157.50 million. Globant had a net margin of 9.09% and a return on equity of 16.39%. The business’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share.

A number of equities analysts have commented on the stock. HSBC cut shares of Globant from a “hold” rating to a “reduce” rating and lifted their price objective for the stock from $52.00 to $80.00 in a research note on Tuesday, September 10th. Zacks Investment Research cut shares of Globant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 16th. ValuEngine cut shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Cowen set a $116.00 price objective on shares of Globant and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Citigroup cut shares of Globant from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $93.00 to $115.00 in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $90.90.

Institutional investors have recently added to or reduced their stakes in the company. FTB Advisors Inc. lifted its holdings in shares of Globant by 42.4% in the 2nd quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock worth $37,000 after acquiring an additional 111 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Globant during the 3rd quarter valued at about $55,000. Harvest Fund Management Co. Ltd bought a new stake in Globant during the 2nd quarter valued at about $152,000. NEXT Financial Group Inc lifted its holdings in Globant by 15.3% during the 3rd quarter. NEXT Financial Group Inc now owns 1,569 shares of the information technology services provider’s stock valued at $144,000 after buying an additional 208 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. lifted its holdings in Globant by 1,182.4% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 83.16% of the company’s stock.

Shares of NYSE:GLOB traded up $0.97 on Wednesday, reaching $104.98. The company’s stock had a trading volume of 5,245 shares, compared to its average volume of 287,237. Globant has a 52-week low of $48.95 and a 52-week high of $112.33. The company has a market cap of $3.79 billion, a P/E ratio of 75.24 and a beta of 0.93. The company has a 50-day simple moving average of $94.48 and a 200 day simple moving average of $95.81.

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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