Globant SA (GLOB) to Post Q1 2020 Earnings of $0.43 Per Share, Wedbush Forecasts

Globant SA (NYSE:GLOB) – Research analysts at Wedbush issued their Q1 2020 EPS estimates for shares of Globant in a research report issued on Wednesday, May 8th. Wedbush analyst M. Katri expects that the information technology services provider will earn $0.43 per share for the quarter. Wedbush has a “Outperform” rating and a $90.00 price objective on the stock. Wedbush also issued estimates for Globant’s Q2 2020 earnings at $0.59 EPS, Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.53 EPS and FY2020 earnings at $2.17 EPS.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, May 9th. The information technology services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $146.15 million for the quarter, compared to analyst estimates of $145.23 million. Globant had a return on equity of 16.88% and a net margin of 9.77%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 earnings per share.



Other analysts have also issued research reports about the company. Zacks Investment Research raised Globant from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Tuesday, April 16th. SunTrust Banks raised their price target on Globant to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Cantor Fitzgerald reissued a “hold” rating and issued a $67.00 price target on shares of Globant in a research note on Friday, February 15th. Itau BBA Securities lowered Globant from an “outperform” rating to a “market perform” rating in a research note on Friday, February 15th. Finally, Morgan Stanley started coverage on Globant in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $85.00 price target on the stock. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Globant has a consensus rating of “Buy” and a consensus price target of $75.25.

GLOB opened at $79.61 on Monday. The firm has a market cap of $2.98 billion, a P/E ratio of 57.27 and a beta of 1.00. Globant has a 52 week low of $46.30 and a 52 week high of $85.70.

A number of large investors have recently modified their holdings of the business. ClariVest Asset Management LLC acquired a new stake in Globant in the 1st quarter worth about $1,742,000. Northern Trust Corp boosted its stake in Globant by 20.5% in the 1st quarter. Northern Trust Corp now owns 142,062 shares of the information technology services provider’s stock worth $10,143,000 after buying an additional 24,168 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Globant by 5.3% in the 1st quarter. OppenheimerFunds Inc. now owns 767,920 shares of the information technology services provider’s stock worth $54,830,000 after buying an additional 38,320 shares during the last quarter. WCM Investment Management LLC boosted its stake in Globant by 1.4% in the 1st quarter. WCM Investment Management LLC now owns 40,599 shares of the information technology services provider’s stock worth $2,899,000 after buying an additional 555 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Globant by 11.9% in the 1st quarter. William Blair Investment Management LLC now owns 1,004,844 shares of the information technology services provider’s stock worth $71,746,000 after buying an additional 107,099 shares during the last quarter. 79.88% of the stock is currently owned by hedge funds and other institutional investors.

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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