Wall Street analysts expect Globant SA (NYSE:GLOB) to announce sales of $145.02 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Globant’s earnings. The lowest sales estimate is $144.01 million and the highest is $146.01 million. Globant posted sales of $119.71 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.1%. The business is scheduled to issue its next earnings results on Thursday, May 9th.

On average, analysts expect that Globant will report full-year sales of $639.49 million for the current year, with estimates ranging from $637.07 million to $641.90 million. For the next year, analysts anticipate that the company will post sales of $771.11 million, with estimates ranging from $768.01 million to $776.20 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Globant.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 14th. The information technology services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Globant had a net margin of 9.89% and a return on equity of 16.40%. The firm had revenue of $140.14 million during the quarter, compared to the consensus estimate of $139.32 million. During the same period last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis.

Several equities research analysts recently issued reports on GLOB shares. Zacks Investment Research cut shares of Globant from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Friday, January 4th. ValuEngine upgraded shares of Globant from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. SunTrust Banks lifted their price target on shares of Globant to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Globant from $69.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, October 24th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $57.00 target price on shares of Globant in a research note on Friday, November 30th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $64.75.

Shares of NYSE GLOB traded up $0.33 during midday trading on Thursday, reaching $69.75. 149,577 shares of the stock were exchanged, compared to its average volume of 243,917. The company has a market cap of $2.49 billion, a PE ratio of 50.18 and a beta of 0.96. Globant has a 52-week low of $43.29 and a 52-week high of $73.00.

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank acquired a new position in shares of Globant in the third quarter valued at $1,068,000. Brookstone Capital Management bought a new position in Globant in the third quarter valued at about $285,000. Bamco Inc. NY boosted its holdings in Globant by 5.9% during the third quarter. Bamco Inc. NY now owns 34,680 shares of the information technology services provider’s stock worth $2,046,000 after buying an additional 1,933 shares during the last quarter. Rehmann Capital Advisory Group boosted its holdings in Globant by 6,078.1% during the third quarter. Rehmann Capital Advisory Group now owns 31,323 shares of the information technology services provider’s stock worth $531,000 after buying an additional 30,816 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Globant by 7.4% during the third quarter. BlackRock Inc. now owns 415,104 shares of the information technology services provider’s stock worth $24,487,000 after buying an additional 28,454 shares during the last quarter. 78.62% of the stock is owned by hedge funds and other institutional investors.

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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