Analysts expect Globant SA (NYSE:GLOB) to post $157.45 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Globant’s earnings. The lowest sales estimate is $157.30 million and the highest is $157.86 million. Globant posted sales of $127.89 million during the same quarter last year, which would indicate a positive year over year growth rate of 23.1%. The business is expected to announce its next earnings results on Thursday, August 22nd.

On average, analysts expect that Globant will report full-year sales of $641.93 million for the current fiscal year, with estimates ranging from $635.98 million to $645.69 million. For the next year, analysts expect that the firm will post sales of $776.56 million, with estimates ranging from $772.61 million to $784.69 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Globant.

Globant (NYSE:GLOB) last released its earnings results on Thursday, May 9th. The information technology services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $146.15 million during the quarter, compared to the consensus estimate of $145.23 million. Globant had a net margin of 9.77% and a return on equity of 16.35%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share.

GLOB has been the subject of a number of research reports. Zacks Investment Research cut shares of Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price objective (up from $75.00) on shares of Globant in a research note on Wednesday, May 8th. Morgan Stanley initiated coverage on shares of Globant in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $85.00 price objective on the stock. Itau BBA Securities lowered shares of Globant from an “outperform” rating to a “market perform” rating in a research note on Friday, February 15th. Finally, ValuEngine raised shares of Globant from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $75.13.

Institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its holdings in Globant by 151.7% during the fourth quarter. Mackenzie Financial Corp now owns 623,994 shares of the information technology services provider’s stock worth $35,143,000 after buying an additional 376,047 shares during the last quarter. Morgan Stanley raised its holdings in Globant by 8.0% during the third quarter. Morgan Stanley now owns 3,916,084 shares of the information technology services provider’s stock worth $231,010,000 after buying an additional 289,250 shares during the last quarter. Norges Bank acquired a new position in Globant during the fourth quarter worth $15,761,000. Bank of New York Mellon Corp raised its holdings in Globant by 81.7% during the fourth quarter. Bank of New York Mellon Corp now owns 575,405 shares of the information technology services provider’s stock worth $32,407,000 after buying an additional 258,748 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Globant by 11.9% during the first quarter. William Blair Investment Management LLC now owns 1,004,844 shares of the information technology services provider’s stock worth $71,746,000 after buying an additional 107,099 shares during the last quarter. Institutional investors own 79.55% of the company’s stock.

Globant stock traded up $1.96 during mid-day trading on Friday, reaching $89.35. The company’s stock had a trading volume of 329,035 shares, compared to its average volume of 226,505. The company has a market cap of $3.04 billion, a P/E ratio of 64.28 and a beta of 1.00. Globant has a 12 month low of $46.30 and a 12 month high of $87.88. The company has a current ratio of 1.69, a quick ratio of 2.29 and a debt-to-equity ratio of 0.09.

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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Earnings History and Estimates for Globant (NYSE:GLOB)

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