Globant S.A. (GLOB) Expected to Announce Quarterly Sales of $104.25 Million
Brokerages forecast that Globant S.A. (NYSE:GLOB) will report sales of $104.25 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Globant’s earnings, with the highest sales estimate coming in at $104.94 million and the lowest estimate coming in at $103.30 million. Globant reported sales of $82.35 million during the same quarter last year, which indicates a positive year-over-year growth rate of 26.6%. The company is expected to announce its next earnings results on Monday, November 13th.
On average, analysts expect that Globant will report full year sales of $104.25 million for the current fiscal year, with estimates ranging from $391.50 million to $403.03 million. For the next year, analysts expect that the business will post sales of $483.17 million per share, with estimates ranging from $474.33 million to $491.08 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Globant.
Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Globant had a net margin of 8.61% and a return on equity of 15.08%. The business had revenue of $99.60 million during the quarter, compared to analysts’ expectations of $95.79 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year.
Several research analysts have recently issued reports on GLOB shares. 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 report on Thursday, July 27th. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed a “hold” rating and set a $36.00 price objective on shares of Globant in a research report on Friday, May 19th. BidaskClub cut Globant from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Citigroup Inc. upped their price objective on Globant from $42.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $44.17.
Several hedge funds and other institutional investors have recently made changes to their positions in GLOB. Bank of Montreal Can boosted its position in shares of Globant by 1,002.4% in the 2nd quarter. Bank of Montreal Can now owns 2,337 shares of the information technology services provider’s stock valued at $101,000 after purchasing an additional 2,125 shares during the period. D.A. Davidson & CO. boosted its position in shares of Globant by 175.3% in the 2nd quarter. D.A. Davidson & CO. now owns 4,275 shares of the information technology services provider’s stock valued at $185,000 after purchasing an additional 2,722 shares during the period. Bank of America Corp DE boosted its position in shares of Globant by 34.5% in the 1st quarter. Bank of America Corp DE now owns 5,153 shares of the information technology services provider’s stock valued at $188,000 after purchasing an additional 1,321 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Globant in the 2nd quarter valued at about $188,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Globant in the 2nd quarter valued at about $205,000. 66.49% of the stock is owned by hedge funds and other institutional investors.
Globant (NYSE:GLOB) traded up 0.59% during midday trading on Wednesday, reaching $38.98. The company’s stock had a trading volume of 202,042 shares. The firm has a market capitalization of $1.36 billion, a PE ratio of 47.02 and a beta of 0.88. 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 $41.49 and its 200 day moving average price is $39.38.
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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