Globant S.A. (GLOB) Expected to Earn Q3 2017 Earnings of $0.32 Per Share

Globant S.A. (NYSE:GLOB) – Stock analysts at KeyCorp boosted their Q3 2017 earnings estimates for Globant in a research report issued on Sunday. KeyCorp analyst A. Ramnani now forecasts that the information technology services provider will post earnings of $0.32 per share for the quarter, up from their prior forecast of $0.31. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Globant’s Q4 2017 earnings at $0.35 EPS and FY2017 earnings at $1.02 EPS.

A number of other equities research analysts have also recently issued reports on the company. SunTrust Banks, Inc. reaffirmed a “hold” rating on shares of Globant in a research report on Sunday, October 22nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $42.00 target price (up previously from $36.00) on shares of Globant in a research report on Friday, August 18th. Wedbush reaffirmed an “outperform” rating and set a $48.00 target price on shares of Globant in a research report on Saturday, October 14th. BidaskClub raised Globant from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $50.00 target price on shares of Globant in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.86.

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Shares of Globant (NYSE:GLOB) opened at $35.29 on Wednesday. The company has a market capitalization of $1,245.58, a P/E ratio of 39.22 and a beta of 0.83. Globant has a 12 month low of $30.90 and a 12 month high of $47.51.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.16). The firm had revenue of $99.60 million during the quarter, compared to the consensus estimate of $95.79 million. Globant had a net margin of 8.61% and a return on equity of 15.08%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 EPS.

Hedge funds have recently modified their holdings of the company. Citigroup Inc. lifted its holdings in shares of Globant by 146.7% during the second quarter. Citigroup Inc. now owns 5,353 shares of the information technology services provider’s stock worth $233,000 after buying an additional 3,183 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Globant by 0.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 39,851 shares of the information technology services provider’s stock worth $1,451,000 after buying an additional 100 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of Globant by 4.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 197,577 shares of the information technology services provider’s stock worth $8,583,000 after buying an additional 9,000 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Globant by 6.2% during the first quarter. Teachers Advisors LLC now owns 43,970 shares of the information technology services provider’s stock worth $1,601,000 after buying an additional 2,578 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC lifted its holdings in shares of Globant by 0.8% during the second quarter. Grandeur Peak Global Advisors LLC now owns 521,025 shares of the information technology services provider’s stock worth $22,633,000 after buying an additional 3,975 shares during the last quarter. Institutional investors own 68.33% of the company’s stock.

Globant Company Profile

Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.

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