Globant SA (GLOB) Announces Earnings Results, Misses Estimates By $0.01 EPS
Globant SA (NYSE:GLOB) released its quarterly earnings results on Monday. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. The business earned $82.40 million during the quarter, compared to analyst estimates of $81.95 million. Globant SA had a return on equity of 20.00% and a net margin of 11.46%. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 EPS. Globant SA updated its Q4 guidance to $0.30-$0.33 EPS.
Shares of Globant SA (NYSE:GLOB) opened at 40.52 on Wednesday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 42.65 and a beta of 1.19. The stock has a 50 day moving average price of $43.52 and a 200-day moving average price of $40.71. Globant SA has a 52-week low of $22.50 and a 52-week high of $47.19.
A number of large investors have recently made changes to their positions in the stock. WCM Investment Management CA raised its stake in shares of Globant SA by 15.8% in the second quarter. WCM Investment Management CA now owns 66,689 shares of the company’s stock worth $2,624,000 after buying an additional 9,075 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Globant SA during the second quarter worth $236,000. Tygh Capital Management Inc. acquired a new stake in shares of Globant SA during the second quarter worth $3,609,000. Emerald Acquisition Ltd. acquired a new stake in shares of Globant SA during the second quarter worth $746,000. Finally, California State Teachers Retirement System raised its stake in shares of Globant SA by 66.4% in the second quarter. California State Teachers Retirement System now owns 53,906 shares of the company’s stock worth $2,121,000 after buying an additional 21,505 shares in the last quarter. 59.96% of the stock is currently owned by institutional investors.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Globant SA from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $43.00 price target on shares of Globant SA in a report on Tuesday, September 13th. Wedbush assumed coverage on Globant SA in a report on Thursday, September 8th. They issued an “outperform” rating and a $48.00 price target for the company. JPMorgan Chase & Co. upped their price target on Globant SA from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $37.00 price target on shares of Globant SA in a report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.14.
Globant SA 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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