Globant SA (NYSE:GLOB) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.30-$0.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.35. The company issued revenue guidance of $84.5-$86.5 million, compared to the consensus revenue estimate of $85.68 million.

Globant SA (NYSE:GLOB) opened at 40.52 on Wednesday. Globant SA has a 52 week low of $22.50 and a 52 week high of $47.19. The company has a 50-day moving average price of $43.52 and a 200 day moving average price of $40.71. The company has a market cap of $1.39 billion, a PE ratio of 42.65 and a beta of 1.19.

Globant SA (NYSE:GLOB) last issued its quarterly earnings results on Monday, November 14th. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. The company earned $82.40 million during the quarter, compared to analysts’ expectations of $81.95 million. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. On average, equities research analysts forecast that Globant SA will post $1.18 EPS for the current fiscal year.

A number of research analysts recently weighed in on GLOB shares. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $28.00 price target on shares of Globant SA in a research note on Tuesday, July 19th. Citigroup Inc. raised their target price on shares of Globant SA from $41.00 to $48.50 and gave the stock a buy rating in a research note on Thursday, August 11th. Jefferies Group reissued a hold rating and issued a $37.00 target price on shares of Globant SA in a research note on Thursday, August 11th. Pacific Crest reissued a hold rating on shares of Globant SA in a research note on Thursday, August 11th. Finally, Cantor Fitzgerald reissued a hold rating and issued a $43.00 target price on shares of Globant SA in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $40.14.

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Globant SA during the third quarter valued at $104,000. Bamco Inc. NY increased its stake in Globant SA by 100.8% in the third quarter. Bamco Inc. NY now owns 3,786 shares of the company’s stock valued at $159,000 after buying an additional 1,901 shares during the period. KCG Holdings Inc. bought a new stake in Globant SA during the second quarter valued at $230,000. Principal Financial Group Inc. bought a new stake in Globant SA during the third quarter valued at $263,000. Finally, American International Group Inc. increased its stake in Globant SA by 65.4% in the second quarter. American International Group Inc. now owns 14,799 shares of the company’s stock valued at $582,000 after buying an additional 5,850 shares during the period. Hedge funds and other institutional investors own 59.96% of the company’s stock.

About Globant SA

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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