Globant (GLOB) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Globant (NYSE:GLOB) announced its quarterly earnings data on Thursday. The information technology services provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02, Morningstar.com reports. Globant had a net margin of 9.77% and a return on equity of 16.88%. The firm had revenue of $146.15 million for the quarter, compared to analyst estimates of $145.23 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year.

GLOB opened at $85.49 on Friday. Globant has a fifty-two week low of $46.30 and a fifty-two week high of $85.70. The stock has a market capitalization of $2.91 billion, a P/E ratio of 54.42 and a beta of 1.00.

GLOB has been the topic of several research reports. Cantor Fitzgerald reiterated a “hold” rating and set a $67.00 price objective on shares of Globant in a report on Friday, February 15th. Itau BBA Securities lowered shares of Globant from an “outperform” rating to a “market perform” rating in a report on Friday, February 15th. ValuEngine upgraded shares of Globant from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. SunTrust Banks upped their target price on shares of Globant to $75.00 and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Wedbush upped their target price on shares of Globant from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 13th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $75.25.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its holdings in shares of Globant by 0.9% in the 1st quarter. US Bancorp DE now owns 15,817 shares of the information technology services provider’s stock worth $1,130,000 after acquiring an additional 137 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Globant by 0.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 54,008 shares of the information technology services provider’s stock worth $3,856,000 after acquiring an additional 223 shares during the last quarter. American Capital Management Inc. raised its holdings in shares of Globant by 6.7% in the 4th quarter. American Capital Management Inc. now owns 5,571 shares of the information technology services provider’s stock worth $314,000 after acquiring an additional 350 shares during the last quarter. Bollard Group LLC bought a new stake in Globant in the 1st quarter worth about $29,000. Finally, Brookstone Capital Management grew its position in Globant by 8.8% in the 4th quarter. Brookstone Capital Management now owns 5,266 shares of the information technology services provider’s stock worth $297,000 after purchasing an additional 427 shares in the last quarter. Institutional investors own 79.88% of the company’s stock.

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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 for Globant (NYSE:GLOB)

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