Zacks: Analysts Expect Globant SA (GLOB) Will Announce Earnings of $0.47 Per Share

Equities analysts predict that Globant SA (NYSE:GLOB) will report earnings per share of $0.47 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Globant’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.46. Globant reported earnings of $0.39 per share during the same quarter last year, which would suggest a positive year over year growth rate of 20.5%. The business is expected to report its next quarterly earnings report on Thursday, February 21st.

On average, analysts expect that Globant will report full-year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.73. For the next fiscal year, analysts anticipate that the business will post earnings of $2.10 per share, with EPS estimates ranging from $2.03 to $2.22. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Globant.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, November 15th. The information technology services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Globant had a net margin of 10.53% and a return on equity of 16.03%. The company had revenue of $134.57 million for the quarter, compared to the consensus estimate of $132.72 million.

A number of research firms recently issued reports on GLOB. Citigroup boosted their price objective on Globant from $62.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 24th. JPMorgan Chase & Co. boosted their price objective on Globant from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, August 24th. Goldman Sachs Group began coverage on Globant in a research note on Monday, November 19th. They set a “buy” rating and a $65.00 price objective on the stock. Cantor Fitzgerald reiterated a “hold” rating and set a $57.00 price objective on shares of Globant in a research note on Friday, November 30th. Finally, Zacks Investment Research lowered Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $61.50.

NYSE:GLOB opened at $53.75 on Wednesday. Globant has a 52-week low of $39.07 and a 52-week high of $66.41. The firm has a market cap of $2.06 billion, a P/E ratio of 61.08 and a beta of 0.85.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its stake in Globant by 8.0% in the 3rd quarter. Morgan Stanley now owns 3,916,084 shares of the information technology services provider’s stock worth $231,010,000 after acquiring an additional 289,250 shares during the last quarter. Wasatch Advisors Inc. increased its stake in Globant by 36.9% in the 3rd quarter. Wasatch Advisors Inc. now owns 1,758,045 shares of the information technology services provider’s stock worth $103,707,000 after acquiring an additional 474,011 shares during the last quarter. Compass Group LLC increased its stake in Globant by 53.0% in the 2nd quarter. Compass Group LLC now owns 1,423,193 shares of the information technology services provider’s stock worth $80,795,000 after acquiring an additional 493,101 shares during the last quarter. Wells Fargo & Company MN increased its stake in Globant by 10.5% in the 3rd quarter. Wells Fargo & Company MN now owns 1,069,992 shares of the information technology services provider’s stock worth $63,119,000 after acquiring an additional 101,451 shares during the last quarter. Finally, Capital World Investors increased its stake in Globant by 4.0% in the 3rd quarter. Capital World Investors now owns 901,800 shares of the information technology services provider’s stock worth $53,197,000 after acquiring an additional 35,072 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

About Globant

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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Earnings History and Estimates for Globant (NYSE:GLOB)

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