Zacks: Analysts Anticipate Globant SA (NYSE:GLOB) to Post $0.59 EPS

Wall Street brokerages expect that Globant SA (NYSE:GLOB) will post earnings of $0.59 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Globant’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.58. Globant reported earnings of $0.46 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 28.3%. The company is expected to announce its next earnings results on Thursday, November 21st.

On average, analysts expect that Globant will report full year earnings of $2.24 per share for the current fiscal year, with EPS estimates ranging from $2.22 to $2.25. For the next year, analysts expect that the company will post earnings of $2.75 per share, with EPS estimates ranging from $2.67 to $2.84. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover Globant.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The company had revenue of $157.50 million during the quarter, compared to analyst estimates of $157.50 million. Globant had a return on equity of 16.39% and a net margin of 9.09%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share.

GLOB has been the subject of a number of research reports. William Blair restated a “buy” rating on shares of Globant in a report on Friday, August 16th. Cowen set a $116.00 price target on shares of Globant and gave the stock a “buy” rating in a report on Friday, August 16th. HSBC cut shares of Globant from a “hold” rating to a “reduce” rating and raised their price target for the stock from $52.00 to $80.00 in a report on Tuesday, September 10th. ValuEngine cut shares of Globant from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup cut shares of Globant from a “buy” rating to a “neutral” rating and raised their price target for the stock from $93.00 to $115.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Globant currently has a consensus rating of “Buy” and an average price target of $88.45.

NYSE:GLOB opened at $88.89 on Monday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 63.95 and a beta of 0.90. The firm has a fifty day simple moving average of $93.41 and a two-hundred day simple moving average of $94.34. Globant has a 12 month low of $46.30 and a 12 month high of $112.33.

Several hedge funds and other institutional investors have recently modified their holdings of GLOB. BlackRock Inc. grew its holdings in shares of Globant by 393.3% during the second quarter. BlackRock Inc. now owns 1,721,511 shares of the information technology services provider’s stock valued at $173,959,000 after buying an additional 1,372,522 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Globant by 671.3% during the second quarter. Invesco Ltd. now owns 843,989 shares of the information technology services provider’s stock valued at $85,285,000 after buying an additional 734,563 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Globant by 32.5% during the second quarter. William Blair Investment Management LLC now owns 1,331,175 shares of the information technology services provider’s stock valued at $134,515,000 after buying an additional 326,331 shares during the last quarter. Wasatch Advisors Inc. grew its holdings in shares of Globant by 15.3% during the second quarter. Wasatch Advisors Inc. now owns 2,183,891 shares of the information technology services provider’s stock valued at $220,682,000 after buying an additional 289,133 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Globant by 1,306.0% during the second quarter. Vanguard Group Inc. now owns 178,329 shares of the information technology services provider’s stock valued at $18,020,000 after buying an additional 165,646 shares during the last quarter. Hedge funds and other institutional investors own 83.28% of the company’s stock.

Globant Company Profile

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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