Globant S.A. (NYSE:GLOB) Expected to Post Quarterly Sales of $95.37 Million
Analysts expect Globant S.A. (NYSE:GLOB) to post $95.37 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Globant’s earnings. The highest sales estimate is $96.77 million and the lowest is $92.50 million. Globant posted sales of $79.93 million during the same quarter last year, which suggests a positive year-over-year growth rate of 19.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 17th.
According to Zacks, analysts expect that Globant will report full-year sales of $95.37 million for the current financial year, with estimates ranging from $387.00 million to $393.15 million. For the next fiscal year, analysts anticipate that the business will report sales of $472.07 million per share, with estimates ranging from $467.83 million to $474.33 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Globant.
Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, May 18th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $88.74 million for the quarter, compared to analyst estimates of $87.63 million. Globant had a net margin of 11.13% and a return on equity of 18.60%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS.
Several equities research analysts have recently weighed in on GLOB shares. Cantor Fitzgerald reissued a “hold” rating and issued a $36.00 target price on shares of Globant in a research note on Friday, May 19th. BidaskClub downgraded shares of Globant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $43.36.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in Globant by 73.0% in the first quarter. Parametric Portfolio Associates LLC now owns 26,985 shares of the information technology services provider’s stock worth $982,000 after buying an additional 11,383 shares during the last quarter. Denver Investment Advisors LLC boosted its position in Globant by 52.2% in the first quarter. Denver Investment Advisors LLC now owns 19,743 shares of the information technology services provider’s stock worth $719,000 after buying an additional 6,770 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Globant by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 68,163 shares of the information technology services provider’s stock worth $2,481,000 after buying an additional 605 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in Globant during the first quarter worth approximately $566,000. Finally, Russell Investments Group Ltd. boosted its position in Globant by 46.8% in the first quarter. Russell Investments Group Ltd. now owns 300,618 shares of the information technology services provider’s stock worth $10,947,000 after buying an additional 95,815 shares during the last quarter. Hedge funds and other institutional investors own 70.81% of the company’s stock.
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Shares of Globant (NYSE GLOB) opened at 43.18 on Friday. The firm has a 50-day moving average of $40.80 and a 200-day moving average of $36.38. Globant has a one year low of $30.90 and a one year high of $47.19. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 41.92 and a beta of 0.85.
Globant Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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