Globant S.A. (NYSE:GLOB) Expected to Announce Quarterly Sales of $397.96 Million

Wall Street analysts expect Globant S.A. (NYSE:GLOB – Get Rating) to report $397.96 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Globant’s earnings, with the highest sales estimate coming in at $405.30 million and the lowest estimate coming in at $394.40 million. Globant reported sales of $270.17 million in the same quarter last year, which indicates a positive year over year growth rate of 47.3%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Globant will report full-year sales of $1.77 billion for the current fiscal year, with estimates ranging from $1.75 billion to $1.81 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.18 billion, with estimates ranging from $2.06 billion to $2.31 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Globant.

Globant (NYSE:GLOB – Get Rating) last posted its quarterly earnings results on Thursday, February 17th. The information technology services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The firm had revenue of $379.82 million during the quarter, compared to analyst estimates of $361.26 million. Globant had a return on equity of 10.79% and a net margin of 7.41%. During the same quarter in the previous year, the firm earned $0.57 EPS.

GLOB has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Globant in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research lowered Globant from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. Piper Sandler cut their price target on Globant from $352.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, February 18th. Finally, Cowen boosted their price target on Globant from $300.00 to $305.00 in a research note on Friday, February 18th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Globant has a consensus rating of “Buy” and an average price target of $334.22.

Large investors have recently made changes to their positions in the stock. abrdn plc lifted its holdings in Globant by 385.2% in the 4th quarter. abrdn plc now owns 651,501 shares of the information technology services provider’s stock worth $204,630,000 after purchasing an additional 517,222 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Globant in the 4th quarter worth approximately $151,568,000. 1832 Asset Management L.P. purchased a new position in Globant in the 4th quarter worth approximately $147,279,000. Jennison Associates LLC lifted its holdings in Globant by 100.4% in the 3rd quarter. Jennison Associates LLC now owns 839,323 shares of the information technology services provider’s stock worth $235,858,000 after purchasing an additional 420,509 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Globant by 84.7% in the 4th quarter. Capital International Investors now owns 818,071 shares of the information technology services provider’s stock worth $256,948,000 after purchasing an additional 375,040 shares in the last quarter. Institutional investors own 88.21% of the company’s stock.

GLOB opened at $216.14 on Thursday. Globant has a 1 year low of $202.50 and a 1 year high of $354.62. The stock has a 50-day moving average price of $244.61 and a 200-day moving average price of $267.51. The firm has a market cap of $9.05 billion, a PE ratio of 94.38 and a beta of 1.51.

Globant Company Profile (Get Rating)

Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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