Globant S.A. (NYSE:GLOB) Expected to Announce Quarterly Sales of $425.86 Million

Equities analysts expect Globant S.A. (NYSE:GLOBGet Rating) to announce sales of $425.86 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Globant’s earnings, with the lowest sales estimate coming in at $424.31 million and the highest estimate coming in at $427.49 million. Globant reported sales of $305.26 million in the same quarter last year, which indicates a positive year-over-year growth rate of 39.5%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Globant will report full-year sales of $1.77 billion for the current year, with estimates ranging from $1.77 billion to $1.78 billion. For the next year, analysts expect that the business will report sales of $2.19 billion, with estimates ranging from $2.06 billion to $2.28 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Globant.

Globant (NYSE:GLOBGet Rating) last posted its quarterly earnings results on Thursday, May 19th. The information technology services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. The company had revenue of $401.38 million for the quarter, compared to analysts’ expectations of $397.41 million. Globant had a return on equity of 11.16% and a net margin of 7.77%. Globant’s quarterly revenue was up 48.6% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share.

Several equities research analysts have recently weighed in on the company. TheStreet downgraded Globant from a “b-” rating to a “c+” rating in a report on Thursday, May 5th. Wedbush cut their price objective on Globant to $300.00 in a research report on Friday, May 20th. Citigroup cut their price objective on Globant from $350.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Cowen cut their price objective on Globant from $305.00 to $240.00 in a research report on Friday, May 20th. Finally, Piper Sandler lowered their target price on Globant from $339.00 to $223.00 and set an “overweight” rating on the stock in a report on Friday, May 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Globant currently has an average rating of “Buy” and a consensus price target of $298.78.

Shares of GLOB opened at $181.10 on Thursday. The stock has a 50 day moving average price of $225.73 and a 200 day moving average price of $253.50. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 69.12 and a beta of 1.51. Globant has a 52-week low of $159.56 and a 52-week high of $354.62.

A number of hedge funds have recently bought and sold shares of the business. UMB Bank N A MO bought a new stake in Globant during the 1st quarter valued at $29,000. Retirement Group LLC acquired a new stake in shares of Globant during the fourth quarter worth $31,000. HM Payson & Co. raised its position in shares of Globant by 2,171.4% during the fourth quarter. HM Payson & Co. now owns 159 shares of the information technology services provider’s stock worth $50,000 after purchasing an additional 152 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Globant during the fourth quarter worth $57,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of Globant during the first quarter worth $72,000. Institutional investors own 88.21% of the company’s stock.

About Globant (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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