Globant SA Expected to Post FY2020 Earnings of $2.30 Per Share (GLOB)

Globant SA (NYSE:GLOB) – Equities researchers at KeyCorp issued their FY2020 EPS estimates for Globant in a note issued to investors on Sunday, February 10th. KeyCorp analyst A. Ramnani forecasts that the information technology services provider will post earnings per share of $2.30 for the year.

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Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, November 15th. The information technology services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $134.57 million for the quarter, compared to analysts’ expectations of $132.72 million. Globant had a net margin of 10.53% and a return on equity of 16.03%.

GLOB has been the topic of several other reports. Zacks Investment Research lowered shares of Globant from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Friday, January 4th. ValuEngine raised shares of Globant from a “buy” rating to a “strong-buy” rating in a report on Monday, February 4th. SunTrust Banks upped their price target on shares of Globant to $75.00 and gave the company a “buy” rating in a report on Tuesday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of Globant from $69.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, October 24th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $57.00 price target on shares of Globant in a report on Friday, November 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $63.50.

NYSE:GLOB opened at $68.00 on Wednesday. Globant has a one year low of $43.29 and a one year high of $69.90. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 77.27 and a beta of 0.96.

Several hedge funds have recently bought and sold shares of the company. American Capital Management Inc. boosted its stake in shares of Globant by 6.7% during 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 in the last quarter. Brookstone Capital Management raised its position in shares of Globant by 8.8% during 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 during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Globant during the 4th quarter worth about $28,000. M&T Bank Corp raised its position in shares of Globant by 14.8% during the 4th quarter. M&T Bank Corp now owns 5,784 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 747 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware raised its position in shares of Globant by 5.4% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 18,292 shares of the information technology services provider’s stock worth $1,031,000 after purchasing an additional 936 shares during the last quarter. 77.45% of the stock is currently owned by institutional investors and hedge funds.

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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