Globant SA (NYSE:GLOB) Expected to Announce Quarterly Sales of $157.45 Million

Analysts expect Globant SA (NYSE:GLOB) to post sales of $157.45 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Globant’s earnings, with the lowest sales estimate coming in at $157.30 million and the highest estimate coming in at $157.86 million. Globant reported sales of $127.89 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.1%. The business is scheduled to announce its next earnings report on Thursday, August 15th.

On average, analysts expect that Globant will report full-year sales of $643.14 million for the current financial year, with estimates ranging from $641.74 million to $645.69 million. For the next fiscal year, analysts expect that the business will report sales of $778.23 million, with estimates ranging from $773.40 million to $784.69 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Globant.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.41 by $0.12. The company had revenue of $157.50 million during the quarter, compared to the consensus estimate of $157.50 million. Globant had a return on equity of 16.35% and a net margin of 9.77%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS.

Several research firms have recently commented on GLOB. Citigroup downgraded Globant from a “buy” rating to a “neutral” rating and increased their price objective for the company from $93.00 to $115.00 in a report on Wednesday, July 17th. Zacks Investment Research cut Globant from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Itau BBA Securities upgraded Globant from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $113.00 in a research note on Friday, June 21st. Finally, Wedbush restated an “outperform” rating and issued a $90.00 price target (up previously from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Globant has a consensus rating of “Buy” and a consensus target price of $88.00.

NYSE GLOB opened at $101.11 on Friday. The company has a market cap of $3.64 billion, a PE ratio of 72.74 and a beta of 0.84. The company has a current ratio of 1.69, a quick ratio of 2.29 and a debt-to-equity ratio of 0.09. Globant has a 12 month low of $46.30 and a 12 month high of $112.33. The stock has a 50 day moving average of $105.85 and a 200-day moving average of $86.55.

Large investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. boosted its stake in Globant by 42.4% in the second quarter. FTB Advisors Inc. now owns 373 shares of the information technology services provider’s stock valued at $37,000 after buying an additional 111 shares in the last quarter. Bollard Group LLC acquired a new stake in Globant in the first quarter valued at about $29,000. Icon Wealth Partners LLC acquired a new stake in Globant in the first quarter valued at about $42,000. Cutler Group LP acquired a new stake in Globant in the first quarter valued at about $128,000. Finally, Winslow Evans & Crocker Inc. boosted its stake in Globant by 1,182.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,898 shares of the information technology services provider’s stock valued at $192,000 after buying an additional 1,750 shares in the last quarter. 79.31% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Article: How To Calculate Debt-to-Equity Ratio

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.