Globant S.A. (NYSE:GLOB) announced its quarterly earnings data on Thursday. The information technology services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.16, Morningstar.com reports. The firm had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $95.79 million. Globant had a net margin of 11.13% and a return on equity of 18.60%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. Globant updated its Q3 guidance to $0.32-$0.36 EPS and its FY17 guidance to $1.22-$1.30 EPS.

Globant (NYSE GLOB) traded down 0.1006% on Friday, hitting $42.2175. The stock had a trading volume of 60,896 shares. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 40.9879 and a beta of 0.85. The stock’s 50 day moving average is $43.54 and its 200 day moving average is $38.81. Globant has a one year low of $30.90 and a one year high of $47.51.

GLOB has been the topic of several analyst reports. Cantor Fitzgerald reiterated a “hold” rating and set a $42.00 price target on shares of Globant in a report on Friday. SunTrust Banks, Inc. lowered Globant from a “buy” rating to a “hold” rating and lifted their price target for the stock from $43.00 to $48.00 in a report on Thursday, July 27th. They noted that the move was a valuation call. Citigroup Inc. lifted their price target on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Finally, BidaskClub lowered Globant from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $44.71.

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Several hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its stake in Globant by 0.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock worth $1,451,000 after buying an additional 100 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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. Fisher Asset Management LLC raised its stake in Globant by 9.1% in the first quarter. Fisher Asset Management LLC now owns 10,800 shares of the information technology services provider’s stock worth $393,000 after buying an additional 900 shares during the last quarter. American International Group Inc. raised its stake in Globant by 7.1% in the first quarter. American International Group Inc. now owns 15,829 shares of the information technology services provider’s stock worth $576,000 after buying an additional 1,047 shares during the last quarter. Finally, UBS Group AG raised its stake in Globant by 11.4% in the first quarter. UBS Group AG now owns 12,786 shares of the information technology services provider’s stock worth $466,000 after buying an additional 1,311 shares during the last quarter. 73.08% of the stock is currently owned by institutional investors and hedge funds.

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.

Earnings History for Globant (NYSE:GLOB)

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