Globant SA (NYSE:GLOB) Expected to Post Quarterly Sales of $187.78 Million

Equities analysts forecast that Globant SA (NYSE:GLOB) will post $187.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Globant’s earnings, with the highest sales estimate coming in at $188.68 million and the lowest estimate coming in at $185.70 million. Globant posted sales of $146.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 28.5%. The business is expected to announce its next quarterly earnings results on Thursday, May 14th.

According to Zacks, analysts expect that Globant will report full year sales of $797.04 million for the current fiscal year, with estimates ranging from $757.60 million to $814.13 million. For the next year, analysts expect that the company will report sales of $964.55 million, with estimates ranging from $910.20 million to $987.04 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Globant.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49. Globant had a net margin of 8.19% and a return on equity of 16.53%. The company had revenue of $184.31 million during the quarter, compared to analyst estimates of $183.46 million.

GLOB has been the subject of several recent research reports. Cowen reaffirmed an “outperform” rating and set a $140.00 target price (up from $125.00) on shares of Globant in a report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Globant from $119.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. KeyCorp lifted their target price on shares of Globant from $121.00 to $144.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wedbush lifted their target price on shares of Globant from $115.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Finally, Citigroup lifted their target price on shares of Globant from $125.00 to $128.00 and gave the company a “neutral” rating in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $122.70.

Institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new stake in Globant in the 4th quarter valued at $31,000. Vigilant Capital Management LLC acquired a new stake in Globant during the 4th quarter worth $53,000. Tower Research Capital LLC TRC acquired a new stake in Globant during the 3rd quarter worth $55,000. Quadrant Capital Group LLC acquired a new stake in Globant during the 4th quarter worth $55,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in Globant by 94.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 747 shares of the information technology services provider’s stock worth $67,000 after purchasing an additional 363 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:GLOB traded up $4.85 during trading on Tuesday, hitting $94.36. 554,811 shares of the stock traded hands, compared to its average volume of 386,624. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 65.99 and a beta of 1.11. The company has a fifty day moving average price of $101.86 and a two-hundred day moving average price of $104.27. Globant has a 52-week low of $70.83 and a 52-week high of $141.67.

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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