Zacks: Analysts Anticipate Globant (GLOB) Will Announce Quarterly Sales of $114.06 Million

Equities analysts forecast that Globant (NYSE:GLOB) will announce sales of $114.06 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Globant’s earnings, with estimates ranging from $113.40 million to $114.62 million. Globant posted sales of $88.74 million during the same quarter last year, which would suggest a positive year over year growth rate of 28.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 17th.

On average, analysts expect that Globant will report full-year sales of $503.51 million for the current fiscal year, with estimates ranging from $501.70 million to $504.91 million. For the next financial year, analysts anticipate that the business will report sales of $603.77 million per share, with estimates ranging from $593.70 million to $609.04 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Globant.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. Globant had a net margin of 7.55% and a return on equity of 13.02%. The company had revenue of $115.43 million during the quarter, compared to analyst estimates of $109.25 million.



Several research firms have recently issued reports on GLOB. Zacks Investment Research lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th. SunTrust Banks raised shares of Globant from a “hold” rating to a “buy” rating in a research report on Wednesday, April 4th. ValuEngine raised shares of Globant from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, JPMorgan Chase reissued an “overweight” rating and issued a $54.00 price objective (up previously from $50.00) on shares of Globant in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $49.57.

Globant stock opened at $44.77 on Friday. Globant has a 52-week low of $33.75 and a 52-week high of $54.84. The firm has a market capitalization of $1,585.82, a PE ratio of 51.93 and a beta of 0.54.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC grew its holdings in Globant by 7.0% during the 4th quarter. William Blair Investment Management LLC now owns 28,990 shares of the information technology services provider’s stock valued at $1,347,000 after purchasing an additional 1,893 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Globant by 19.8% during the 4th quarter. Bank of New York Mellon Corp now owns 11,948 shares of the information technology services provider’s stock valued at $556,000 after purchasing an additional 1,971 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Globant during the 4th quarter valued at $172,000. Bamco Inc. NY grew its holdings in Globant by 55.0% during the 4th quarter. Bamco Inc. NY now owns 13,977 shares of the information technology services provider’s stock valued at $649,000 after purchasing an additional 4,957 shares in the last quarter. Finally, American Capital Management Inc. grew its holdings in Globant by 76.9% during the 4th quarter. American Capital Management Inc. now owns 11,480 shares of the information technology services provider’s stock valued at $533,000 after purchasing an additional 4,990 shares in the last quarter. 68.37% of the stock is owned by institutional investors and hedge funds.

WARNING: “Zacks: Analysts Anticipate Globant (GLOB) Will Announce Quarterly Sales of $114.06 Million” was first posted by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://dakotafinancialnews.com/2018/04/14/zacks-analysts-anticipate-globant-glob-will-announce-quarterly-sales-of-114-06-million.html.

About Globant

Globant SA develops and provides software solutions to clients in North America, the Latin America, Europe, and Asia. It offers API management, e-commerce, and digital solutions; graphics engineering, game engineering, gaming experience, VR/AR development, and digital platform services; Big Data services, such as data integration, data architecture, scalable platform, blockchain, data visualization, and data science; testing center, test automation, mobile testing, and load and performance testing services.

Get a free copy of the Zacks research report on Globant (GLOB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Globant (NYSE:GLOB)

Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply