Globant (NYSE:GLOB) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Globant (NYSE:GLOBGet Rating) released its quarterly earnings data on Thursday. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.03, Briefing.com reports. Globant had a net margin of 7.77% and a return on equity of 11.16%. The company had revenue of $401.38 million during the quarter, compared to the consensus estimate of $397.41 million. During the same period in the previous year, the firm earned $0.66 earnings per share. Globant’s revenue for the quarter was up 48.6% on a year-over-year basis.

Shares of GLOB stock traded down $2.83 during mid-day trading on Friday, reaching $182.39. 1,182,944 shares of the company were exchanged, compared to its average volume of 421,119. The business’s 50 day simple moving average is $229.92 and its 200 day simple moving average is $257.11. The company has a market capitalization of $7.64 billion, a P/E ratio of 69.61 and a beta of 1.51. Globant has a fifty-two week low of $159.56 and a fifty-two week high of $354.62.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in Globant during the 4th quarter worth approximately $79,000. Charles Schwab Investment Management Inc. lifted its stake in Globant by 28.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,477 shares of the information technology services provider’s stock worth $5,176,000 after purchasing an additional 3,666 shares during the last quarter. Stifel Financial Corp lifted its stake in Globant by 2.8% during the fourth quarter. Stifel Financial Corp now owns 43,690 shares of the information technology services provider’s stock worth $13,722,000 after purchasing an additional 1,199 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Globant in the fourth quarter worth $2,334,000. Finally, Glenmede Trust Co. NA increased its stake in Globant by 8.0% during the fourth quarter. Glenmede Trust Co. NA now owns 6,715 shares of the information technology services provider’s stock valued at $2,108,000 after purchasing an additional 498 shares during the last quarter. 88.21% of the stock is owned by institutional investors.

A number of analysts recently weighed in on GLOB shares. Cowen decreased their price target on shares of Globant from $305.00 to $240.00 in a research report on Friday. Wedbush decreased their target price on Globant to $300.00 in a research report on Friday. TheStreet downgraded Globant from a “b-” rating to a “c+” rating in a report on Thursday, May 5th. StockNews.com started coverage on Globant in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Citigroup lowered their price objective on shares of Globant from $350.00 to $265.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $298.78.

Globant Company Profile (Get Rating)

Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

See Also

Earnings History for Globant (NYSE:GLOB)

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