Globant S.A. (NYSE:GLOB) issued its earnings results on Thursday. The information technology services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.01, reports. The firm had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $95.79 million. Globant had a return on equity of 18.60% and a net margin of 11.13%. Globant’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. Globant updated its Q3 guidance to $0.32-$0.36 EPS and its FY17 guidance to $1.22-$1.30 EPS.

Globant (GLOB) traded down 1.49% during midday trading on Thursday, reaching $42.26. The company’s stock had a trading volume of 255,440 shares. Globant has a 1-year low of $30.90 and a 1-year high of $47.51. The stock’s 50-day moving average price is $43.57 and its 200 day moving average price is $38.78. The firm has a market capitalization of $1.47 billion, a PE ratio of 41.03 and a beta of 0.85.

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A number of equities research analysts recently weighed in on the company. Citigroup Inc. upped their price objective on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. BidaskClub upgraded Globant from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Cantor Fitzgerald restated a “hold” rating and set a $36.00 price objective on shares of Globant in a research note on Friday, May 19th. Finally, SunTrust Banks, Inc. cut Globant from a “buy” rating to a “hold” rating and upped their price objective for the stock from $43.00 to $48.00 in a research note on Thursday, July 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $43.86.

About Globant

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.

Earnings History for Globant (NYSE:GLOB)

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